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According to a Chinese media report “China Business News”, China’s largest foundry SMIC held an interim board of directors on the 15th. In addition to confirming the rumors at the meeting, Jiang Shangyi, the COO of Front End Semiconductors, returned to the position of vice president. Furthermore, the most surprising situation is that the current co-CEO Liang Mengsong submitted a written resignation to the board of directors at the meeting to protest that Jiang Shangyi’s return was not notified in advance, thinking that it was not respected. However, Zhou Zixue, president of SMIC, did not approve of Zhongliang Mengsong’s resignation on the spot.
The report noted that after Wuhan Hongxin Semiconductor was shut down due to a broken fund chain and was finally taken over by the Chinese government, SMIC Chairman Zhou Zixue vigorously invited Jiang Shangyi, who previously served as CEO of Wuhan Hongxin, to return to SMIC and serve as a deputy. The position of the president. However, Liang Mengsong, the current co-CEO of SMIC, was not aware of the matter beforehand, which made Liang Mengsong extremely dissatisfied with him and angrily submitted a written resignation at the interim board of directors held on the 15th. The report also indicated that SMIC’s announcement on the night of the 15th indicated that the interim board of directors had voted to appoint a vice president and executive director. However, Liang Mengsong abstained from voting on the motion for no reason.
In response to Liang Mengsong’s written resignation, the following is the full text:
Letter to the Board of Directors
Hello President and Directors!
I know that we will make a very important decision today on the appointment of staff at this meeting.
Currently, SMIC faces various pressures from the United States, posing serious threats to the development of advanced technology. I believe that today’s personnel proposal will inevitably affect the prospects of the company.
It has been more than three years since I was appointed co-CEO by the board of directors in November 2017. During these 1,000 days, I hardly ever took a vacation. Even in June 2019, when I was experiencing life at its most dangerous moment, I never gave up or failed to live up to what you entrusted to me.
During this period, I did my best to complete five generations of technology development from 28nm to 7nm. This is a task that an average company takes more than ten years to complete. And these results are achieved by more than 2,000 engineers led by me, who work hard day and night. Of course, the trust and support of the president and directors in the past is also a key element of success.
I came to mainland China not to seek high-ranking officials, but simply to contribute to mainland China’s high-level integrated circuits. At present, 28nm, 14nm, 12nm and n + 1 technologies have entered mass production, and the development of 7nm technology has also been completed, and the venture mass production will start immediately in April next year. The 8 most critical and most difficult 5nm and 3nm technologies have also been carried out in an orderly manner, only when the EUV lithography machine arrives can we enter the full development stage.
At present, my short-term goals seem to have exceeded expectations and have been successfully achieved.
I got a call from the chairman of the board on December 9, last Wednesday morning: Mr. Jiang is about to become vice president of the company. He was very surprised and puzzled by this, because he did not know anything about it beforehand. I deeply feel that I am no longer respected or mistrusted. I think you shouldn’t need me here anymore to keep working hard for the prospects of the company. I can rest for a while.
After the company’s board of directors and shareholders’ meeting approve Mr. Jiang’s nomination, I will formally submit my resignation. But the company should give a full and fair assessment of my contribution over the past three years, and I should have the right to accept and appeal.
I solemnly tell you that I have no intention of influencing your next vote on this staff appointment, but I think you should let everyone know my true feelings.
My statement hopes that Ms. Guo Guangli, secretary of the board of directors, can be included in the official minutes of the meeting of this interim board of directors.
thanks to all.
So far, SMIC has not issued an official statement on Liang Mengsong’s resignation. However, once Jiang Shangyi’s return and Liang Mengsong’s dissatisfaction caused the company’s kettle storm, previously the two major players were expected to join forces to create the future development of SMIC in the manufacturing process, which it may be worthless. Follow him closely.
(First Image Source: SMIC Official Website)
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