|Hsinchu, Taiwan, May 10, 2006 íV Mr. Paul Chien today said that he will resign from the position as the President of Vanguard International Semiconductor Corporation after the 2006 Annual Shareholders Meeting on May 11, 2006.
Mr. Chien noted that he has been serving in Vanguard for nearly 12 years, and treasure the opportunity of working in Vanguard, which allowed him to grow and learn continuously. He also expresses his appreciation and wishes the very best to all those he worked with, and hope that under the new management team, VIS will continue to advance towards higher goals, and strive for excellent returns for shareholders.
Mr. Chien joined Vanguard in January 1995 as Vice President of Sales and Marketing soon after the company was founded. He was named President in March 2000 to orchestrate the transformation of Vanguard from a DRAM company to a specialty IC foundry company. Mr. Chien was named Chairman in June 2003. In order to further comply with the corporate governance regulations, Mr. Chien resigned from his duty as the president of VIS in December 2005. However, in recognition of his past achievements in transforming VIS from a DRAM company to an IC foundry company, the Board appointed him as the President, and elected Mr. Y.G. Quintin Wu as the Chairman of the board on April 4 2006.
TSMC has nominated Dr. C.S. Hsu to take the position of President of VIS. Dr. Hsu is a semiconductor industry veteran, with experiences including service as a R&D Director of at Samsung Electronics, Vice President of Hualon Microelectronics, and Senior Vice President of Winbond Electronics. He is also familiar with the operations of Vanguard, serving as a Vice President from 1997 to 2000 managing areas including Quality and Reliability, Back-End Assembly and Testing, and Product Development. He has recently taken some personal time to act as a consultant to the President of TSMC North America on special projects.