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Mark Liu retired as TSMC chairman after the company’s June 4, 2024 annual shareholders’ meeting. The newly elected board unanimously chose then-CEO C.C. Wei to become both chairman and chief executive officer, combining board leadership and day-to-day executive leadership in one role.
What changed at TSMC
“SMC” in the original headline refers to Taiwan Semiconductor Manufacturing Company, commonly known as TSMC. The leadership change was first reported in December 2023, when Liu said he would not seek another board term and planned to retire after the 2024 annual meeting. The change took effect on June 4, 2024.
- TSMC shareholders elected a new board at the annual meeting.
- At its first meeting afterward, the board unanimously elected C.C. Wei as chairman and CEO.
TSMC’s June 4, 2024 announcement confirms that Wei held both titles following the vote. He had already been the company’s CEO; the change added the chairmanship.
Why Mark Liu stepped down
Liu said he would not seek another board term and would retire after the annual meeting. The available company announcements do not give a more specific reason for his decision, so it would be inaccurate to attribute it to a particular dispute, business problem or policy change.
What the combined roles mean
The chairman leads the board, while the CEO leads the company’s operations. With Wei holding both positions, TSMC aligned formal board leadership and executive leadership in one person. That concentration is the practical power shift behind the headline; it does not, by itself, establish a change to the company’s strategy or board independence.
The timing matters because TSMC must manage customer commitments, overseas fab investment, technology road maps and geopolitical pressure. The role combination is documented by TSMC; its implications for governance are an interpretation of that arrangement, not a stated company rationale for the succession.
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Why TSMC is described as a global chip linchpin
TSMC’s reported 2023 figures show the scale of its business across revenue, technology, products and customers. The company’s 2024 shareholder-meeting release reported its 2023 financial results, while operating data for 2023 was filed in 2024.
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1Scan for outdated or missing drivers - takes under a minute2Repair Windows errors before they cause bigger problems3Fix the driver behind crashes, sound loss and screen glitches| Measure | Reported figure | Source and period |
|---|---|---|
| Consolidated revenue | NT$2,161.74 billion | TSMC 2024 shareholder-meeting release; 2023 results |
| Net income | NT$838.50 billion | TSMC 2024 shareholder-meeting release; 2023 results |
| Diluted earnings per share | NT$32.34 | TSMC 2024 shareholder-meeting release; 2023 results |
| Distinct process technologies | 288 | TSMC operating data for 2023, filed in 2024 |
| Products and customers | 11,895 products for 528 customers | TSMC operating data for 2023, filed in 2024 |
The figures illustrate the company’s breadth and financial scale, which help explain why leadership changes at TSMC attract global attention. They do not, on their own, quantify market share or prove how dependent any particular industry is on the company.
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