China’s Top Chipmaker Loses Chairman in Latest Executive Exit
- The former CFO cedes post to a Party and chemical veteran
- Gao latest to step down at a company rocked by US sanctions
The Semiconductor Manufacturing International Corp. (SMIC) headquarters in Shanghai.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Semiconductor Manufacturing International Corp.’s chairman has resigned about a year after formally assuming his role, marking the latest high-profile departure from a company rocked by US chip sanctions.
Gao Yonggang quit because of a “job adjustment,” the company said in a Monday exchange filing. Gao, the former chief financial officer who became permanent chairman in March 2022, cedes his post to chemical industry and Communist Party veteran Liu Xunfeng, 58.