Taiwanese technology tycoon Morris Chang is seeking a quieter life as he announced he will retire from TSMC after the annual shareholders meeting in early June 2018. Chang celebrated his 86th anniversary three months ago, he founded TSMC in 1987 and turned his baby into world's largest silicon foundry.
After early June 2018, Chang will no longer participate in any TSMC management activities as he wants to devote his remaining years for himself and his family. The leadership of TSMC will transfer to current co-CEOs Mark Liu and C.C. Wei:
TSMC Chairman Morris Chang today announces: “I will retire from the Company immediately after the Annual Shareholders Meeting in early June, 2018. I will not be a director in the next term of the board of directors. Nor will I participate in any TSMC management activities after the Annual Shareholders Meeting in early June, 2018. From early June, 2018 on, TSMC will be under the dual leadership of Dr. Mark Liu and Dr. C.C. Wei. Dr. Mark Liu will be the Chairman of the Board, and Dr. C.C. Wei will be the Chief Executive Officer. All present directors of the board have agreed to be nominated, and if elected, serve as directors of the board during the next term. They have also agreed to support the afore-mentioned dual leadership of the Company under Drs. Liu and Wei.”
Chairman Morris Chang further said “The past 30-odd years, during which I founded and devoted myself to TSMC, have been an extraordinarily exciting and happy phase of my life. Now, I want to reserve my remaining years for myself and my family. Mark and CC have been Co-CEO’s of the Company since 2013, and have performed outstandingly. After my retirement, with the continued supervision and support of an essentially unchanged board, and under the dual leadership of Mark and CC, I am confident that TSMC will continue to perform exceptionally”.