TSMC chairman Mark Liu to retire next year

TSMC, the world’s largest contract chipmaker, said on Tuesday its board had recommended current CEO and Vice Chairman C.C. Wei succeed Mark Liu who will be retiring next year as chairman, offering continuity to the major Apple supplier.

Company veteran Liu became Taiwan Semiconductor Manufacturing Co’s(2330.TW), chairman in 2018 after founder Morris Chang, who remains the senior statesman of Taiwan’s chip industry, retired.

Liu, who joined TSMC in 1993, said he would like to put his “decades of semiconductor experience to other use, spend more time with my family, and start the next chapter of my life”, according to a company statement.

“I am confident that TSMC will continue to perform outstandingly in the years to come.”

The TSMC board’s Nominating, Corporate Governance and Sustainability Committee recommended that Wei succeed Liu, subject to the election of the incoming board in June 2024.

TSMC is a world class company and the Taiwan stock most held by foreign investors, said James Hwang, chairman of Franklin Templeton Securities Investment Management’s Taiwan office.

“Its internal processes in terms of developing professional high-end leadership talent are comprehensive and polished,” he said. “I don’t think the change (in leadership) will noticeably impact the operation or direction for TSMC going forward.” Reuters