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4 directors quit board of top Chinese chipmaker SMIC

Manufacturer announces reshuffle and receives Shanghai Stock Exchange warning

SMIC is China's biggest contract chipmaker and a key part of Beijing's goal of building a domestic semiconductor ecoystem. (Photo courtesy of SMIC)

TAIPEI -- China's largest contract chipmaker, Semiconductor Manufacturing International Co., on Thursday said nearly one-third of its board of directors has resigned effective immediately, in a big reshuffle of high-ranking personnel after the company was blacklisted by the U.S. in late 2020.

The four resignations include Vice Chairman Chiang Shang-yi, the former co-chief operating officer and longtime research and development chief of rival chipmaker Taiwan Semiconductor Manufacturing Corp. The hiring of Chiang, an industry heavyweight, in December 2020 was viewed as a way for SMIC and China to bolster the semiconductor sector.

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