Chip giant SMIC appears to be fighting among itself after it emerged that co-CEO Leung Mong-song resigned at a board meeting.
On the evening of December 15, SMIC officially announced that Mr Jiang shangyi had been appointed vice-chairman of smIC’s board, Category II Executive Director and member of the strategy committee, effective from December 15, 2020.
Meanwhile, Mr Leung, SMIC’s co-chief executive, was reported to have offered to resign at the board meeting, although Zhou Zixue, SMIC’s chairman, did not give the green light on the spot.
A statement from Mr Leung announcing his resignation at the board meeting later circulated online.
Regarding the reasons for his resignation, Leung said that jiang Shangyi was informed of the change by Chairman Zhou Zixue on December 9 and had no prior knowledge of it.
The implication is that the change was not communicated fully in advance. Leung felt very “stunned and puzzled”, felt “no longer respected and distrusted”, and believed that he was no longer needed to continue to fight for the future of the company.
As a result, Mr. Leung formally tendered his resignation after the company’s board of directors and board of shareholders approved Mr. Jiang’s nomination.
In fact, after Liang Mengsong joined SMIC, the industry has been repeatedly came liang Mengsong and another co-CEO Zhao Haijun not to leave the rumors, but may be chairman Zhou Zixue in which to mediate, so that these rumors are just rumors.
But it was a surprise that the change, with Jiang Shangyi taking over as smIC’s vice-chairman, led directly to Mr Leung’s public resignation at the board meeting.
Mr Jiang, 74, has been in the semiconductor industry for 45 years. He was co-chief operating officer at TSMC.
Mr Jiang first joined SMIC in December 2016 as an independent non-executive director. In June 2019, SMIC announced that Jiang would not be reappointed for personal reasons and other work commitments.
Soon, Jiang Shangyi will join Wuhan Hongxin as CEO.
Before joining Wuhan Hongxin, Jiang Shangyi said he would develop a unique wafer foundry mode in the field of Internet of things in Hongxin. But since this year, Wuhan Hong core but frequently “thunder”, spread investment and equipment can not be in place in time, plant construction is blocked, new staff hard to enter the hearsay.
In this regard, Jiang Shangyi chose the “rush to retreat”. In a statement on November 17, Mr Jiang said through his lawyer that he had resigned as a director, general manager and CHIEF executive of Wuhan Hongxin in June and that he had no salary and no longer held any position at Wuhan Hongxin semiconductor since his resignation in July.
However, Mr Chiang’s return led directly to Mr Leung’s resignation.
Liang Mengsong has nearly 70 years old this year, graduated from the university of California, Berkeley, electrical engineering and computer science, and obtained a doctorate in, as the member of institute of electrical and electronic engineers, it has more than 33 years of experience in the semiconductor industry, from 1992 to 2009 in Taiwan IC manufacturing co., LTD. As a senior r&d director.
In February 2011, Mr. Leung joined Samsung as chief technology officer of its chip division.
In October 2017, Mr. Leung was named smIC’s co-CEO.
Smic was founded in 2000 and has since become the mainland’s most famous chipmaker, but is highly dependent on equipment from US suppliers and its biggest customer is huawei, which has been repeatedly sanctioned by the US.
In late September, the Financial Times reported that a September 25 document from the Department of Commerce’s Bureau of Industry and Security showed SMIC was also blacklisted by the United States for trade embargoes, meaning that it was subject to import and export controls.
On December 3, the US government officially blacklisted four Chinese companies, including SMIC. The US Defence Department believes the four Chinese companies are owned or controlled by the Communist party’s military, threatening US national security and restricting US investors from investing in them.
On December 11, Nasdaq said it had removed four Chinese companies, including SMIC, from its index in response to the US government’s order to restrict share purchases.
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