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TSMC succession comes at critical moment as iPhone sales slow

Taiwan chip industry godfather Morris Chang to retire on June 5

Morris Chang, founding chairman of TSMC, established a new business model manufacturing semiconductors for other companies. (Photo by Shinya Sawai)

TAIPEI -- The legendary founder and executive chairman of Taiwan Semiconductor Manufacturing Co. this week will hand over the company's reins, entrusting two successors to guide the top contract chipmaker and key Apple supplier through a critical phase of slowing iPhone sales. 

Morris Chang, 86, will host the company's annual general meeting for the last time on Tuesday. Though the leadership change was announced on Oct. 2, for many it is still difficult to imagine TSMC without the man known as the godfather of Taiwan's chip industry.

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