By PENG Xin
China’s top contract chip maker SMIC (Semiconductor Manufacturing International Corp.) has rung the changes among senior management.
The board now consists of one executive director, LIU Xunfeng, along with three non-executive directors and four independent non-executive directors.
Liu is now chairman of the board, executive director of the company and chairman of the nomination committee of the board, replacing GAO Yonggang who resigned on Monday.
Gao joined SMIC in 2009 and became CFO in 2014. He will continue as chairman of JCET Group, the world's leading integrated circuit manufacturing and technology services provider, and as director of iRay, a leader in the development and manufacture of X-ray components for medical and industrial imaging applications.
Liu, 58, has more than 30 years of experience in corporate management, according to the SMIC announcement. He held key positions in major industrial groups and is president of the Shanghai Society for Advanced Materials.
Amid the downturn of the semiconductor industry, SMIC’s financials have been affected by a decline in revenue and net profit in Q1.
