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TSMC reshuffles mgt, seeks new growth markets

Posted: 17 Jun 2009     Print Version  Bookmark and Share

Keywords:LED  solar  TSMC sales  business development 

Taiwan Semiconductor Manufacturing Co. Ltd (TSMC) has named Morris Chang to serve as chief executive, along with his current position as chairman, effective June 12.

He assumes the CEO title from Rick Tsai, who was appointed president and CEO of TSMC in 2005. In his new role, Tsai will serve as president of the New Business Development Organisation, reporting to Chang. The group will focus on new growth markets, such as LED and solar, according to reports.

TSMC is looking for new markets to jumpstart its sales. ''The short answer is that Chang thinks (TSMC can generate) Rs.9,797.39 crore ($2 billion) in revenues per year from new businesses by 2018 would be a conservative estimate,'' according to TSMC.

According to company officials, here's why TSMC formed the new organisation and is looking for new markets:

1. ''We don't expect total TSMC sales to return to 2008 revenues of $10 billion (Rs.48,986.94 crore) until 2012.''

2. ''Assuming we resume 6 per cent growth from 2012-2018, 2018 revenues would be about $14-to-$15 billion (Rs.68,582 crore to Rs.73,480 crore). That would be a 3 per cent compound annual growth rate from 2008-2018.''

3. ''However, if new businesses could add $2 billion (Rs.9,797.39 crore) in revenue/year by 2018, that would raise our compound annual growth rate to 4.5 per cent. That's 50 per cent higher than 3 per cent—it would put TSMC in a completely different valuation class.''

-Mark LaPedus
EE Times

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