China SMIC chairman resigns, replaced by chemical industry veteran

SHANGHAI (Reuters) - Semiconductor Manufacturing International Corp (SMIC) said Chairman Gao Yonggang has resigned, marking the latest board level departure from China's largest chipmaker in recent years as it battles U.S. pressure.

Gao, who was appointed as chairman in March 2022 and previously served as the company's chief financial officer, also resigned from his executive director role due to a "job adjustment", SMIC said in a Monday statement.

Liu Xunfeng, vice chairman of the board, will replace Gao as chairman, SMIC said.

The company added that Liu concurrently serves as vice chairman of the Shanghai Chemical Industry Park Development and is a member of the 14th National Committee of the Chinese People’s Political Consultative Conference, the top political advisory body to China's parliament.

Liu previously held a series of roles at a unit of refining giant China Petroleum & Chemical Corp, better known as Sinopec, and chemical group Shanghai Huayi Group, SMIC said.

SMIC is at the forefront of China's charge to catch up with Japan, South Korea and the United States in chip technology but has been hit by U.S. export controls which deny it access to advanced manufacturing equipment.

In 2021, the company saw its then-chairman Zhou Zixue resign citing health reasons, as well as the departure of Taiwanese semiconductor industry veteran and former TSMC executive Chiang Shang-yi, along with three board members.

Last year, former Arm executive William Tudor Brown resigned as independent non-executive director of the board.

(Reporting by Brenda Goh; editing by Jason Neely)