The Chairman of TSMC steps down as the CEO takes over

Taiwan Semiconductor Manufacturing Co. (TSMC) announced that its Chairman, Mark Liu, plans to retire in 2024.

During his tenure, Liu navigated the company through a global chip shortage, which also involved geopolitical tensions between China and the U.S. Liu expressed gratitude for his 30-year journey with TSMC and intends to apply his semiconductor expertise elsewhere, spend more time with family, and embark on the next chapter of his life.

Having joined TSMC in 1993, Liu took on the role of chairman in 2018 after the retirement of the company’s founder, Morris Chang. Chang, considered the father of Taiwan’s chip industry, transformed TSMC into the world’s leading producer of advanced semiconductors.

Liu’s successor will be chosen from within the company, with TSMC’s current Vice Chairman and CEO, C.C. Wei, slated to assume the role pending board approval. Wei, who joined TSMC in 1998, has been on the board of directors since 2017 and holds a doctorate from Yale.