UMC replaces CEO in management shuffle

LONDON – Foundry chip maker United Microelectronics Corp. has appointed Po-Wen Yen to the CEO's post while appointing outgoing CEO Shih-Wei as vice chairman with the role of focusing on strategic issues.

Prior to his appointment as CEO, Po-Wen Yen was UMC's senior vice president responsible for 300-mm operations. Yen joined UMC in 1986 and was responsible for the operation of fabs 8AB and 8C. He also served as the vice president for UMC-SG, UMC's 300-mm wafer fab in Singapore.

In a statement issued on Monday (Nov. 19), UMC said the move is intended to strengthen the company's competitiveness. The chairman of UMC is Stan Hung, a former chief financial officer of the company.

It is reported that Globalfoundries Inc. has become the number two foundry behind Taiwan Semiconductor Manufacturing Co. in 2012 pushing UMC into third position. The company's sales in 2012 are expected to decline by 1 percent compared with 2011, according to a market forecast from IC Insights.

"My top priority as CEO will be to ensure we meet customers' needs" said Yen, in the same statement. "In addition, I am eager to tackle upcoming challenges as UMC steers through industry and macroeconomic headwinds."



Po-Wen Yen, UMC's new CEO

Sun said, "It has been rewarding during my four years as CEO to ensure quality execution of UMC's customer-driven strategy. I am grateful to now serve as the company's vice chairman, with the opportunity to shape the company's future direction from a strategic perspective."

In July it was revealed that UMC was seeking partners and additional resources in return for 10 percent of the business.


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UMC seeks partners, offers 10 percent share in business