Chang to Remain 'Ultimate Authority' at TSMC

Peter Clarke, Electronics360
17 October 2013

Morris Chang, chairman and CEO of foundry Taiwan Semiconductor Manufacturing Co. Ltd. (TSMC), said Thursday (Oct. 17) that he would step down as CEO by June 2014, but made it clear he would still be calling the shots as chairman.

In a conference call with analysts to discuss TSMC's third quarter results, Chang, who is 82 years old, took a few minutes to discuss the much-anticipated CEO succession at the foundry.

"The bottom line is we do plan to appoint a CEO, or two co-CEOs, before June of next year," Chang said.

But Chang—who founded TSMC in 1987—added that he plans to continue as a "hands-on chairman," repeating the phrase several times. He went further, referencing Taiwanese company law, stating: "Under Taiwan law, the chairman is always the ultimate authority. There is no such thing as a non-executive chairman in Taiwan, or an executive chairman. The title of chairman admits no modifier and is always the ultimate authority."

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