UMC appoints twin leaders – follows TSMC model

June 15, 2017 // By Peter Clarke
Semiconductor foundry United Microelectronics Corp. (UMC) has appointed two co-presidents to replace retiring CEO Po-Wen Yen with immediate effect.

Senior vice presidents Shan-Chieh Chien and Jason Wang – shown above left and right, respectively – have been appointed to co-presidents of UMC and will be collectively accountable for the overall performance of UMC (Hsinchu, Taiwan) reporting to chairman Stan Hung.

Chien, a 28-year veteran at UMC, will be responsible for core manufacturing and technology aspects of UMC including R&D and operations. Wang will focus on the business aspects of UMC, including corporate strategy & planning, sales & marketing, and customer engineering. Wang joined UMC as vice president of corporate marketing in 2008.

"With their respective roles clearly defined, I anticipate a very smooth transition as we enter the next stage of UMC’s growth. Our priorities going forward will include a high degree of customer focus, consistent operational excellence, clear investment strategy, and maximizing shareholder value," said chairman Hang, in a statement.

Yen, who served UMC as CEO for five years, said that after his retirement he intends to increase his social and charitable acitivities.

In appointing co-presidents UMC is following a model adopted by rival and much larger foundry TSMC . In November 2013 when Morris Chang stepped down as CEO of TSMC but remained chairman, TSMC appointed Mark Liu and Che-Chia Wei as co-presidents and co-chief executive officers of TSMC.

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