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4-Traders Homepage  >  Equities  >  TAIWAN STOCK EXCHANGE  >  Taiwan Semiconductor Mfg. Co. Ltd.    2330   TW0002330008

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Taiwan Semiconductor Mfg : TSMC Dr. Morris Chang Announces Retirement in June 2018. Future Dual Leadership Will Be Mark Liu as Chairman And C.C. Wei as CEO.

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10/02/2017 | 08:21am CEST
Hsinchu, Taiwan, R.O.C. - Oct. 2, 2017 -
TSMC Chairman Morris Chang today announces: 'I will retire from the Company immediately after the Annual Shareholders Meeting in early June, 2018. I will not be a director in the next term of the board of directors. Nor will I participate in any TSMC management activities after the Annual Shareholders Meeting in early June, 2018. From early June, 2018 on, TSMC will be under the dual leadership of Dr. Mark Liu and Dr. C.C. Wei. Dr. Mark Liu will be the Chairman of the Board, and Dr. C.C. Wei will be the Chief Executive Officer. All present directors of the board have agreed to be nominated, and if elected, serve as directors of the board during the next term. They have also agreed to support the afore-mentioned dual leadership of the Company under Drs. Liu and Wei.'

Chairman Morris Chang further said 'The past 30-odd years, during which I founded and devoted myself to TSMC, have been an extraordinarily exciting and happy phase of my life. Now, I want to reserve my remaining years for myself and my family. Mark and CC have been Co-CEO's of the Company since 2013, and have performed outstandingly. After my retirement, with the continued supervision and support of an essentially unchanged board, and under the dual leadership of Mark and CC, I am confident that TSMC will continue to perform exceptionally'.

TSMC - Taiwan Semiconductor Manufacturing Company Ltd. published this content on 02 October 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 02 October 2017 06:19:05 UTC.

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Financials ( TWD)
Sales 2017 975 B
EBIT 2017 385 B
Net income 2017 341 B
Finance 2017 424 B
Yield 2017 3,09%
P/E ratio 2017 18,01
P/E ratio 2018 15,97
EV / Sales 2017 5,88x
EV / Sales 2018 5,14x
Capitalization 6 158 B
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Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 30
Average target price 236  TWD
Spread / Average Target -0,77%
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NameTitle
Che Chia Wei Co-General Manager & Director
Te Yin Liu Co-General Manager & Director
Chung Mou Chang Chairman
Li Mei Ho Head-Finance & Accounting, Senior Deputy GM
Peter Leahy Bonfield Independent Director
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