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China’s Top Chipmaker Loses Second Senior Executive

  • Chiang Shang-Yi quits as vice chairman after less than a year
  • SMIC also reports sales, profit that beat analyst expectations
Semiconductor Manufacturing International Corp. headquarters in Shanghai.

Semiconductor Manufacturing International Corp. headquarters in Shanghai.

Photographer: Qilai Shen/Bloomberg
Updated on

Semiconductor Manufacturing International Corp. said its Vice-Chairman Chiang Shang-Yi resigned less than a year after joining China’s biggest chipmaker, the second departure of a senior executive in two months.

Chiang, who is in his mid-70s, has left the Shanghai-based company to spend more time with his family, according to a company filing Thursday. The chip industry veteran joined SMIC in December last year, after having helped to turn Taiwan Semiconductor Manufacturing Corp. into the world’s most influential contract chip manufacturer more than a decade ago. The stock dropped as much as 4.5% on Friday in Hong Kong.