Two months after TSMC chairman Mark Liu announced his impending retirement, the semiconductor manufacturing company has promoted two senior executives to share chief operating officer responsibilities.

In a statement, the company said it had appointed SVP of R&D, Y.J. Mii, and SVP of operations, Y.P. Chyn, as executive vice presidents and co-chief operating officers of the company. Both have been working at TSMC for at least 30 years.

– Taiwan Semiconductor Manufacturing Co., Ltd

The two COOs will start their new roles on March 1, reporting directly to C.C. Wei, the company’s CEO. Wei is expected to take over the role of chairman from Liu when his term ends in June 2024.

TSMC produces some of the most advanced processors in the world, manufacturing semiconductors for companies like Apple, AMD, Broadcom, Qualcomm, and Nvidia.

In February 2024, the company announced plans to open a second semiconductor fab in Kumamoto, Japan. Construction is due to start later this year and the site is expected to have a total production capacity of more than 100,000 12-inch wafers per month for use with automotive, industrial, consumer, and HPC-related applications.

In addition to its Japanese factories, TSMC is also building new fabs in Germany and the US state of Arizona. In Dresden, Germany, TSMC has committed to invest €3.5 billion ($3.8bn) in building its first factory in Europe.