TSMC Chairman Dr. Mark Liu Set to Retire; Board Backs Dr. C.C. Wei as Successor

TSMC's Chairman, Dr. Mark Liu, will retire after the 2024 Annual Shareholders Meeting, with Vice Chairman Dr. C.C. Wei recommended to take over, marking the end of an era for the company.

Smooth transition planned for Dr. Liu's retirement
Dr. Liu's remarkable tenure and pivotal role in shaping TSMC's success
TSMC's commitment to corporate governance, technology leadership, and global expansion

In a surprising announcement today, TSMC (Taiwan Semiconductor Manufacturing Company) revealed that its Chairman, Dr. Mark Liu, will not be seeking nomination for the company’s board membership in the next term. Instead, Dr. Liu will be retiring from his position after the 2024 Annual Shareholders Meeting. This news marks the end of an era for TSMC, as Dr. Liu has been at the helm since June 2018, following the retirement of the company’s esteemed founder, Dr. Morris Chang.

While Dr. Liu’s departure is undoubtedly a significant development for TSMC, the company is already preparing for a smooth transition. The Nominating, Corporate Governance, and Sustainability Committee of TSMC’s board has recommended that Vice Chairman Dr. C.C. Wei take over the reins as the next Chairman, pending the election of the incoming board in June 2024.

Dr. Liu’s tenure at TSMC has been nothing short of remarkable. Joining the company in 1993, he has played a pivotal role in shaping TSMC’s success and global leadership in the semiconductor industry. Under his leadership, TSMC has remained steadfast in its commitment to its mission while focusing on crucial aspects such as corporate governance, technology leadership, digital excellence, and expanding its global footprint.

Reflecting on his time at TSMC, Dr. Liu expressed gratitude towards the talented team that has propelled the company to its current stature as a global leader. He stated, “The past 30 years with TSMC has been an extraordinary journey for me. I want to extend my sincerest thanks to our incredibly talented team who made the company the global leader it is today.” Dr. Liu also acknowledged the privilege of serving as Chairman after the Dr. Morris Chang and expressed his desire to redirect his semiconductor expertise towards new endeavors, spend more time with his family, and embark on the next chapter of his life.

Despite his impending retirement, Dr. Liu remains committed to overseeing the corporate governance of TSMC until the end of his term. He expressed confidence in the company’s future, stating, “I am confident that TSMC will continue to perform outstandingly in the years to come.”

As TSMC bids farewell to its esteemed Chairman, the industry will undoubtedly be watching closely to see how Dr. C.C. Wei, if elected, will steer the company into the future. With TSMC’s impressive track record and its unwavering commitment to innovation and excellence, it is poised to maintain its position as a global powerhouse in the semiconductor arena.

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Background Information

About TSMC:

TSMC, or Taiwan Semiconductor Manufacturing Company, is a semiconductor foundry based in Taiwan. Established in 1987, TSMC is a important player in the global semiconductor industry, specializing in the manufacturing of semiconductor wafers for a wide range of clients, including technology companies and chip designers. The company is known for its semiconductor fabrication processes and plays a critical role in advancing semiconductor technology worldwide.