Business

SMIC Appoints New Acting CEO After Exec Departs

Following the abrupt resignation of its CEO last week, Semiconductor Manufacturing International Corporation has now named a new leader for the company.

Zhang Wenyi has been appointed SMIC's chairman, executive director, and acting CEO with effect from July 15, 2011. The company says it will continue its search for a suitable candidate to fill the CEO position.

The company announced last week that David N. K. Wang resigned as the chief executive officer of the company with effect from July 13, 2011.

Zhang, 64, graduated from Tsinghua University's Radio Engineering Department and has many years of experience in the semiconductor industry. Zhang previously served as the chairman of the Board of Shanghai Hua Hong (Group) Company Ltd., China's first 8-inch foundry. Zhang also served as vice minister of China's Ministry of Electronics Industry.

"I am very honored to have been recently elected as SMIC's chairman, though it comes with enormous responsibility and great challenges," Zhang stated in a company press release.

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