The firm brand for Taiwan Semiconductor Manufacturing Company is displayed on a display on the ground of the New York Stock Exchange (NYSE) in New York City, U.S., September 26, 2023.
Brendan Mcdermid | Reuters
Taiwan Semiconductor Manufacturing Company Chairman Mark Liu plans to retire in 2024, the corporate stated in a press release Tuesday.
“Chairman Dr. Mark Liu has decided not to seek the nomination of TSMC board membership for the next term and will retire from the company after the 2024 annual shareholders meeting,” stated TSMC.
The board plans to have vice chairman and CEO C.C. Wei succeed Liu’s position, topic to shareholders’ approval.
Liu joined TSMC in 1993 and assumed the position of chairman after founder Morris Chang’s retirement in June 2018.
TSMC is the highest producer of the world’s most superior processors. The Taiwanese agency manufactures semiconductors for firms like Apple and Nvidia, typically based mostly on structure from chip design agency Arm.
TSMC at the moment manufactures 3-nanometer chips and plans to start out 2-nanometer mass manufacturing in 2025. “Nanometer” in semiconductors refers back to the dimension of particular person transistors on a chip. The smaller the scale of the transistor, the extra of them will be packed onto a single semiconductor. As such, smaller nanometer sizes usually yield extra highly effective and environment friendly chips.
In October, TSMC reported a third-quarter revenue of 211 billion Taiwan {dollars} ($6.69 billion), beating analyst expectations.
TSMC in September accepted an funding in Arm of as much as $100 million because the British agency went public.
Source: www.cnbc.com”