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TSMC's founder retires amid 'challenges from various fronts'

Morris Chang remains cautious about a trade war

A Taiwan Semiconductor Manufacturing Co. shareholder with Morris Chang, who retired on Tuesday as head of the company he founded in 1987, in Hsinchu, Taiwan. (Photo by Cheng Ting-Fang) 

HSINCHU, Taiwan -- With hundreds of shareholders and employees offering an enthusiastic standing ovation, as if they were attending a maestro’s final concert, Morris Chang, the legendary founding chairman of Taiwan Semiconductor Manufacturing Co., retired on Tuesday as head of the world’s biggest contract chipmaker and a supplier to Apple’s iPhones.

The widely revered industry leader’s retirement marks the end of an important chapter for Taiwan’s flagship chip industry, which is the world’s No. 3 by revenue after the U.S. and South Korea. However, Chang said there are still several hurdles ahead for the company that he founded in 1987.

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