BEIJING—Semiconductor Manufacturing International Corp., China's biggest chip foundry by capacity, said it appointed Tzu-Yin Chiu as the company's new chief executive and an executive director, after last month's resignation of the company's former CEO.
Mr. Chiu, 55, was previously chief executive at Shanghai Hua Hong NEC Electronics Co. and has been in the semiconductor industry for more than 27 years, SMIC said in a statement.
SMIC last month said CEO David Wang had resigned after losing a reelection motion at the company's annual general meeting. SMIC last month also named Zhang Wenyi as its new chairman after announcing on June 29 that former Chairman Jiang Shang Zhou had died.
The loss of two top executives in quick succession has dragged down SMIC's shares, which closed Friday at 43 Hong Kong cents (5.5 U.S. cents), down 32% since they resumed trading on July 18.
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