SMIC boss falls on his semiconductor sword
The CEO of Chinese foundry Semiconductor Manufacturing International Corporation (SMIC) has resigned.
According to Digitimes, Richard Wang left immediately, while David NK Wang was appointed as CEO and president of SMIC with immediate effect.
He was the CEO of Huahong Group, a VP at Applied Materials, and worked on semiconductor research at Bell Labs.
Last week, SMIC lost a court action in a US court to Taiwanese pure play foundry TSMC and there's likely to be a pretty big bill to pay if the case doesn't go to appeal.
TSMC is the world's largest pure play foundry. It takes designs from so-called "fabless" companies like Nvidia and ATI, and turns them into silicon.