Taiwan Semiconductor Mfg. Co. Ltd. (ADR) (NYSE:TSM) has recently announced its third trimester income report. The company has said that in the third trimester its net profit was up by 5.2% to NT$51.95B ($1.77B), which was above the average estimate of the market that had pegged it at of NT$51.71B. Its income has gone up by increased demand for its chips from smart phone and tablet manufacturers. The companies earning per share also went up by 5.2 per cent to NT$2 ($0.34 per ADR unit). Its total income for the trimester was up by a record 14.9% to NT$162.58B.
The company CEO Morris Chang has also stated that he would be resigning from his post of CEO of the company in June 2014. Mr. Chang would continue to head the company as Chairman. His replacement as CEO could be one person or two people heading the company as two co-CEOs. Morris Chang has formed the company and served as its chairman. He is also regarded as the father of the Taiwanese chip industry. He took over the posts of president and CEO of the company in 1984-85 and will retire at the age of 82.
Chang has been an important part in the coming up of the company and its acclaim as a worldwide chip maker. He played a key part in promoting Taiwan as an Industrial zone and his role in that has been appreciated by all. Chang has been active in many companies in Key roles. He had become CEO of TSM again in 2009, after 4 years as he had given the post to Rick Tsai in 2005. He has won many prizes for his brilliant contribution to the rise of the industry and the prizes include him being called an important contributor in the 50 year old semiconductor industry.
As per the industry, his two likely replacements could be from his own company and they are mark Liu and CC Wei. One likely person who could have replaced him was Chiang Sing Yi but he has also announced his desire to retire in October this year. It is certain that whichever person replaces Chang, he will have a tough job, as Chang has been responsible in making TSM a leading semiconductor producer.
