Former Arm President Tudor Brown Resigns From SMIC Board
Tudor Brown, the former president of British tech giant Arm, announced on August 11 through his LinkedIn page that he has resigned from the board of directors of Semiconductor Manufacturing International Corporation (SMIC), a Chinese IC manufacturing company, after serving in the position for nine years.
According to his LinkedIn profile, he was an executive at Arm from 1990 to May 2012, before it was acquired by SoftBank Group in 2016. He has since served as a director of several Chinese companies and is currently one of the directors of Chinese PC maker Lenovo Group.
This follows a personnel change made in March, when SMIC announced that Gao Yonggang was appointed as Chairman of SMIC and that Zhou Zixue had resigned as an executive director of the company due to health reasons. Thus, according to SMIC’s announcement in May, the board of directors includes executive directors: Gao Yonggang (Chairman and Chief Financial Officer) and Zhao Haijun (Co-Chief Executive Officer). Tudor Brown also served on it as an independent non-executive director.
SMIC reported revenue of $1.842 billion for the first quarter of this year, up 66.9% year-over-year, and net income of $447 million, up 181.5% year-over-year. Gross profit for the quarter was $750 million, up 200% year-over-year. SMIC said the increase in sales revenue was mainly due to product mix changes, price adjustments and increased shipments in Q1 2022.
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SMIC senior executives commented: “In the first half of 2022, events such as the pandemic and international local conflicts brought uncertainties to the development of the global IC industry. The weakening demand for consumer electronics, while the growing demand for new energy vehicles, display panels and industrial sectors led to the intensification of structural tightness in semiconductor manufacturing capacity in the short term. The company has made early capacity allocation optimization adjustments and promoted capacity construction in an orderly manner.”