Taiwan Semiconductor Manufacturing Company (TSMC) has reiterated that it will not seek representation on the board of directors of Semiconductor Manufacturing International Corporation (SMIC) or get involved in the China foundry's operations.
TSMC was responding to recent reports from China's media that said the world's top pure-play foundry would take a seat on the SMIC board of directors after obtaining a major stake in the China competitor in line with a lawsuit settlement.
Richard Thurston, vice president and general counsel of TSMC, said that the settlement of a lawsuit brought by TSMC against SMIC was motivated by the company's desire to protect its IP and trade secrets in the possession of SMIC. Both parties' agreement clearly pointed out that TSMC will not intervene in the operations of SMIC, and will not enter SMIC's board of directors or management team, Thurston stressed.
Article translated by Jessie Shen
