Semiconductor Manufacturing International Corp (0981. HK), China’s largest chipmaker, announced that its vice-chairman has resigned less than a year after taking the position.
Chiang joined SMIC in late December after working as a research director at Taiwan’s TSMC (2330. TW). He resigned from his vice-chairman position and the board of directors with effect from Thursday, according to the company, in order to spend more time with his family. His resignation comes barely two months after SMIC’s chairman, Zhou Zixue, resigned due to health issues.
Due to its claimed ties to China’s military, SMIC is on a US blacklist that prevents it from obtaining advanced manufacturing equipment from US vendors, which SMIC refutes.The measures stymied the company’s intentions to expand into high-end chip manufacturing, but a global chip scarcity has boosted demand, resulting in great financial results.
Its earnings increased by 22.6 percent in the third quarter.
