The head of Taiwan Semiconductor Manufacturing Company, Mark Liu, is going to retire in 2024, according to a statement from the company on Tuesday.
“Chairman Dr. Mark Liu has decided not to seek the nomination of TSMC board membership for the next term and will retire from the company after the 2024 annual shareholders meeting,” said TSMC.
The company intends for the current vice chairman and CEO, C.C. Wei, to take over Mark Liu’s position, pending approval from the shareholders.
Liu became a part of TSMC in 1993 and took on the position of chairman after Morris Chang, the founder, retired in June 2018.
TSMC Producer of Advanced Processors and Semiconductors
TSMC is the leading producer of the most advanced processors globally. This Taiwanese company makes semiconductors for major companies such as Apple and Nvidia, often using designs from the chip design firm Arm.
Currently, TSMC makes 3-nanometer chips and plans to start mass production of 2-nanometer chips in 2025. In the world of semiconductors, “nanometer” refers to the size of individual transistors on a chip. The smaller the size of the transistor, the more of them can be packed onto a single semiconductor. As such, smaller nanometer sizes typically yield more powerful and efficient chips.
In October, TSMC announced a third-quarter profit of 211 billion Taiwan dollars ($6.69 billion), surpassing what analysts had expected.
In September, TSMC approved an investment in Arm, a British firm, of up to $100 million as Arm went public.
Conclusion
The retirement of TSMC Chairman Mark Liu in 2024 marks a significant transition. The company, a global leader in advanced processors, has contributed to major technological advancements. With plans for 2-nanometer chip production and strategic investments, TSMC continues to shape the future of semiconductor innovation and financial success. The company’s strong financial performance and investments highlight its ongoing impact on technology and business.
