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Tech war: SMIC names new chairman as mainland China’s top contract chip manufacturer faces further US semiconductor tech curbs
- Shanghai-based SMIC said 58-year-old Liu Xunfeng, who had served as its vice-chairman, was named the chip maker’s new chairman effective on Monday
- He replaced Gao Yonggang, who resigned from all his corporate roles at SMIC on the same day
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Che Panin Beijing
Semiconductor Manufacturing International Corp (SMIC), mainland China’s top contract chip maker, on Monday announced the appointment of a new chairman to replace Gao Yonggang, who resigned from all his corporate roles effective on Monday “due to job adjustment”, which the company did not elaborate on.
Shanghai-based SMIC said 58-year-old Liu Xunfeng – who was “recommended” in May by the China Integrated Circuit Industry Investment Fund, also known as the Big Fund, to serve as the chip maker’s vice-chairman – on Monday officially took over as the company’s new chairman and head of its board’s nomination committee.
In the SMIC announcement, Gao confirmed that “he has no disagreement with the board and that there is no information in relation to his cessation to serve as an executive director that needs to be brought to the attention” of the company’s shareholders.
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The latest executive reshuffle at the top of SMIC’s senior management reflects how Beijing is exerting greater control over the Shanghai- and Hong Kong-listed company, as China deals with increased pressure from Washington in terms of new curbs on semiconductor equipment exports and a possible US ban on mainland investments.
Liu has had more than 30 years of experience in corporate management, according to the SMIC announcement.
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