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TSMC Chairman Mark Liu To Retire In 2024, CEO Recommended As Successor.

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TSMC Chairman Mark Liu To Retire In 2024, CEO Recommended As Successor.

(CTN News) – Taiwan Semiconductor Manufacturing Company (TSMC) announced on Tuesday that Chairman Mark Liu will be retiring in 2024.

In a statement, TSMC stated that Chairman Dr. Mark Liu has decided to not seek nomination for the next term of board membership and will retire from the company following the 2024 annual shareholders meeting.

Liu, who joined in 1993, took on the role of chairman after the retirement of founder Morris Chang in June 2018.

During his tenure, TSMC has solidified its position as the leading producer of the world’s most advanced processors.

The company manufactures semiconductors for major companies such as Apple and Nvidia, often utilizing chip design firm Arm’s architecture.

TSMC’s success can be attributed to its ability to stay at the forefront of semiconductor technology. Currently, TSMC produces 3-nanometer chips, which are considered cutting-edge in the industry.

These chips are more powerful and efficient than their predecessors, thanks to the smaller size of individual transistors on the chip.

Smaller nanometer sizes allow for a greater number of transistors to be packed onto a single semiconductor, resulting in improved performance.

Looking ahead, TSMC has plans to commence mass production of 2-nanometer chips in 2025. This indicates the company’s commitment to pushing the boundaries of semiconductor technology and maintaining its position as a leader in the industry.

The development of 2-nanometer chips will likely bring even more powerful and efficient processors to the market, further enhancing the capabilities of devices that rely on semiconductors.

In terms of leadership succession, the board intends to propose C.C. Wei, the current vice chairman and CEO, as Liu’s successor.

Wei has been with many years and has played a crucial role in the company’s success. Pending approval from the shareholders, Wei will take on the responsibility of leading into the future and continuing its legacy of innovation and excellence.

Overall, the Announcement of Chairman Mark Liu’s retirement in 2024 highlights the company’s commitment to long-term planning and ensuring a smooth leadership transition.

With its track record of technological advancements and strong leadership, TSMC is well-positioned to maintain its position as a global leader in semiconductor manufacturing.

In October, TSMC exceeded analyst expectations by reporting a third-quarter profit of 211 billion Taiwan dollars ($6.69 billion).

TSMC made a significant investment in Arm, a British firm that went public, approving up to $100 million in September.

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