SHANGHAI, May 10, 2017 /PRNewswire/ -- Semiconductor Manufacturing International Corporation ("SMIC"; NYSE: SMI; SEHK: 0981.HK), China's largest and most advanced semiconductor foundry, today announces the appointment of Dr. Haijun Zhao as CEO replacing Dr. Tzu-Yin Chiu, who will continue to serve as Vice Chairman and Non-Executive Director of the Board and guide the Company's future strategic direction. In addition, Dr. Chiu will serve as a full-time advisor until June 30, 2017, working closely with Dr. Zhao to ensure a seamless transition of leadership responsibilities.
Dr. Zhao joined SMIC in October 2010 and has moved quickly through the company's ranks. In April, 2013, he became Executive Vice President, Chief Operating Officer. In July, 2013, he also assumed the role of General Manager of SMNC, SMIC's joint venture in Beijing. Dr. Zhao received his B.S. and Ph.D. in Electronics Engineering from Tsinghua University, Beijing, and an MBA from the University of Chicago. He has more than 25 years of experience in semiconductor operations and technology development.
Dr. Zhou Zixue, Chairman of the Board said, "We are pleased to have Dr. Zhao, as nominated by Dr. Chiu, as the Company's new CEO, to lead the Company forward. Also, I want to express my sincere appreciation to Dr. Chiu for his invaluable contributions to the Company. Dr. Chiu, in the past six years, has done an incredible job of turning around the Company, regaining the confidence of our stakeholders, and repositioning the Company as a leading player in the global foundry industry. Due to personal family reasons, he has decided to step down at this time. SMIC will remain a global, professional and independent company. With the solid management team which Dr. Chiu has already put in place at SMIC, I am fully confident of the Company's future prospects."
"It has been an honor to lead the team to transform SMIC over these past years," said Dr. Tzu-Yin Chiu. "The Board and I are confident that now is the right time to transition leadership responsibility, and Haijun is the right leader for SMIC's next chapter of growth. Since joining SMIC seven years ago, Haijun has been an invaluable leader and was a part of the executive team which brought about the transformation in these past few years. SMIC benefits from an outstanding management team with a diverse range of experienced leaders and thousands of dedicated employees. I would like to thank the Board and my SMIC colleagues for their support. I will continue to serve the Company as Vice-Chairman and Non-Executive Director on the Board and contribute to its continued growth and success."
Dr. Haijun Zhao, SMIC CEO said, "I am greatly honored to have the opportunity to lead the SMIC team at this exciting moment in our history. I would like to thank Dr. Chiu for his guidance and mentorship, as well as the Board for their trust. I look forward to working with the Board and the management team as we continue to enhance our competitive position in the foundry markets. As a global and independent foundry player, we are committed to deliver results benefitting our shareholders, customers and employees."
Semiconductor Manufacturing International Corporation ("SMIC"; NYSE: SMI; SEHK: 981) is one of the leading semiconductor foundries in the world and the largest and most advanced foundry in mainland China. SMIC provides integrated circuit (IC) foundry and technology services on process nodes from 0.35 micron to 28 nanometers. Headquartered in Shanghai, China, SMIC has an international manufacturing and service base. In China, SMIC has a 300mm wafer fabrication facility (fab) and a 200mm mega-fab in Shanghai; a 300mm mega-fab and a majority-owned 300mm fab for advanced nodes in Beijing; 200mm fabs in Tianjin and Shenzhen; and a majority-owned joint-venture 300mm bumping facility in Jiangyin; additionally, in Italy SMIC has a majority-owned 200mm fab. SMIC also has marketing and customer service offices in the U.S., Europe, Japan, and Taiwan, and a representative office in Hong Kong. For more information, please visit www.smics.com.
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(Under the Private Securities Litigation Reform Act of 1995)
This document contains, in addition to historical information, "forward-looking statements" within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on SMIC's current assumptions, expectations and projections about future events. SMIC uses words like "believe," "anticipate," "intend," "estimate," "expect," "project" and similar expressions to identify forward looking statements, although not all forward-looking statements contain these words. These forward-looking statements are necessarily estimates reflecting the best judgment of SMIC's senior management and involve significant risks, both known and unknown, uncertainties and other factors that may cause SMIC's actual performance, financial condition or results of operations to be materially different from those suggested by the forward-looking statements including, among others, risks associated with cyclicality and market conditions in the semiconductor industry, intense competition, timely wafer acceptance by SMIC's customers, timely introduction of new technologies, SMIC's ability to ramp new products into volume, supply and demand for semiconductor foundry services, industry overcapacity, shortages in equipment, components and raw materials, availability of manufacturing capacity, financial stability in end markets and intensive intellectual property litigation in high tech industry.
In addition to the information contained in this document, you should also consider the information contained in our other filings with the SEC, including our annual report on Form 20-F filed with the SEC on April 27, 2017, especially in the "Risk Factors" section and such other documents that we may file with the SEC or SEHK from time to time, including on Form 6-K. Other unknown or unpredictable factors also could have material adverse effects on our future results, performance or achievements. In light of these risks, uncertainties, assumptions and factors, the forward-looking events discussed in this document may not occur. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date stated or, if no date is stated, as of the date of this document.
SMIC has filed with the U.S. Securities and Exchange Commission its annual report on Form 20-F for the year ended December 31, 2016. The annual report is available on our website at www.smics.com. In addition, all SMIC ADR holders have the ability, upon request, to receive a hard copy of our complete audited financials free of charge.
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