Morris Chang said in the press release, “I will retire from the Company immediately after the Annual Shareholders Meeting in early June, 2018. I will not be a director in the next term of the board of directors. Nor will I participate in any TSMC management activities after the Annual Shareholders Meeting in early June, 2018.”

“The past 30-odd years, during which I founded and devoted myself to TSMC, have been an extraordinarily exciting and happy phase of my life. Now, I want to reserve my remaining years for myself and my family. Mark and CC have been Co-CEO’s of the Company since 2013, and have performed outstandingly. After my retirement, with the continued supervision and support of an essentially unchanged board, and under the dual leadership of Mark and CC, I am confident that TSMC will continue to perform exceptionally”. Morris Chang further said.

Morris Chang also expressed strong confidence in the development of TSMC after his retirement. He said, TSMC’s manufacturing technology is very leading and customers trust in TSMC’s capability, he is confident that customer relations will not change after his retirement.

In addition, Morris Chang expressed full confidence in the two appointed leaders. He pointed out that the two successors have matured enough to take over the duties of management; Moreover, the two successors all have plentiful semiconductor expertise and they can complement each other, are trusted two candidates.

Although Morris Chang said he will not engage in any management activities after retirement, but he also said that if the two leaders or TSMC Board of Directors seek his advice, he will give them his opinion and suggestions.