Taiwan Semiconductor Manufacturing Company (TSMC) made an announcement on Tuesday regarding the retirement plans of its Chairman, Dr. Mark Liu. In a statement released by the company, it was revealed that Liu has chosen 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. This decision marks the end of Liu’s successful tenure as chairman, during which TSMC rose to become the leading producer of the world’s most advanced processors.
To ensure a smooth transition of leadership, TSMC’s board has put forward the nomination of Vice Chairman and CEO C.C. Wei to succeed Mark Liu’s role. However, this transition is subject to shareholders’ approval. Wei, who has played a pivotal role in TSMC’s growth and success, is well-positioned to take on the responsibilities of chairman and continue leading the company towards future achievements.
Mark Liu’s retirement comes after a remarkable career at TSMC, spanning over three decades. He joined the company in 1993 and assumed the role of chairman in June 2018, following the retirement of TSMC’s founder, Morris Chang. Under Liu’s leadership, TSMC solidified its position as a key player in the semiconductor industry. The company’s collaboration with renowned technology giants, such as Apple and Nvidia, further cemented its reputation as a trusted manufacturer of cutting-edge semiconductors.
TSMC’s expertise in chip manufacturing is at the forefront of technological innovation. The company currently produces 3-nanometer chips, which are known for their superior performance and energy efficiency. Looking ahead, TSMC has ambitious plans to commence mass production of 2-nanometer chips in 2025. The term “nanometer” in semiconductor technology refers to the size of individual transistors on a chip. Smaller nanometer sizes allow for greater transistor density and, consequently, more powerful and efficient chips.
In October, TSMC reported a robust third-quarter profit of 211 billion Taiwan dollars ($6.69 billion), surpassing analyst expectations. This impressive financial performance is a testament to TSMC’s ability to adapt to market demands and deliver superior products. Moreover, the company’s strategic investments continue to strengthen its position in the industry. In September, TSMC approved an investment of up to $100 million in Arm, a renowned chip design firm, as it went public. This investment further underscores TSMC’s commitment to remaining at the cutting edge of technological advancements.
As Chairman Mark Liu prepares to retire in 2024, TSMC is poised to enter a new era under the leadership of C.C. Wei, subject to shareholders’ approval. Liu’s legacy at TSMC has been defined by innovation, collaboration with industry leaders, and a relentless pursuit of technological advancements. The company’s strides in chip manufacturing and strong financial performance highlight its ability to thrive in a highly competitive landscape. With Wei at the helm, TSMC is well-positioned to build upon its achievements and continue shaping the future of the semiconductor industry.