On December 19, it was suddenly announced that TSMC Chairman Mark Liu has decided to leave the company after the upcoming annual meeting with shareholders. No reason was given at the time, but according to a report by Taiwanese site Business Today, he was forced to resign due to problems with the construction of TSMC’s US factories.
The publication states that it has heard from ‘several sources’ that the board of directors blames Liu for the fact that the construction of the factory is going smoothly and has already suffered significant delays. In addition, there has reportedly been disagreement within the board for some time about whether TSMC should invest in the US at all. The founder of the chip manufacturer, Zhang Zhongmou, has repeatedly expressed his dissatisfaction with the investment project. Although he has been retired for years and actually has no say in the company anymore, Business Today claims that his statements have had a major influence on the position of the council members.
The construction of factories in the American state of Arizona has been plagued with problems for years. Construction was initially scheduled to start this year, but has been postponed for at least a year. The company also has difficulty securing sufficient government subsidies. It is still unclear how much the US government will invest in the project, while the Taiwanese chip manufacturer has already invested billions in Fab 21. It is also unclear what the next chairman, TSMC CEO CC Wei, will do with the project. going to do. Business Today suggests that Liu’s successor may significantly reduce investment in US factories from next year.
Source: Business Today