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 mentioned in a statement Tuesday.
“Chairman Dr. Mark Liu has determined not to search the nomination of TSMC board membership for the subsequent time period and can retire from the corporate after the 2024 annual shareholders assembly,” mentioned 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 presently manufactures 3-nanometer chips and plans to start 2-nanometer mass production in 2025. “Nanometer” in semiconductors refers to the scale of particular person transistors on a chip. The smaller the scale of the transistor, the extra of them may be packed onto a single semiconductor. As such, smaller nanometer sizes sometimes 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 approved an investment in Arm of up to $100 million as the British agency went public.