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UMC should restart with startup culture, says Hu

Posted: 17 Feb 2006 ?? ?Print Version ?Bookmark and Share

Keywords:Peter Clarke? Jackson Hu? United Microelectronics? UMC?

Jackson Hu, chairman and CEO of Taiwan foundry United Microelectronics Corp. has said the company would "reinvent itself" as a startup company. Hu made the statement as part of his vision of UMC's direction and within the announcement of UMC's fourth quarter and full year financial results for 2005.

UMC endured a difficult 2005 with controversy surrounding its relations with Chinese foundry He Jian, and whether the company and certain of its executives had broken Taiwanese laws that seek to limit an exodus of technology to the China mainland.

Robert Tsao resigned last month as chairman of UMC just hours before being indicted in Taiwan for allegedly making illegal investments in the Chinese foundry. UMC vice chairman John Hsuan was also indicted and has resigned his post. Tsao was replaced as chairman by chief executive Jackson Hu during a special board meeting held before the indictments were issued by the Hsinchu District Prosecutor's Office. Both Tsao and Hsuan were immediately hired as advisors to UMC and would continue to attend board meetings, UMC said at the time.

Hu acknowledged his election to the post of chairman in a statement of the financial results and made comment on his vision of direction UMC would take.

"In order to best leverage Taiwan's unique environment and business culture, UMC will reinvent itself in the spirit of a startup company. The attributes of a start-up company include solid execution, a low-profile attitude, a strong focus on customer satisfaction, and the ability to quickly deliver the technologies and services that customers require," said Hu, in the statement.

"We are fully prepared to use the considerable financial strength that we have accumulated over the years to fund aggressive research and development programs, expand production capacity, and retain and hire the best people in the industry."

Hu said UMC would focus on "core" operations while continuing to strengthen technology and improving the foundry service model. Hu added that progress had been made along these lines in last two years and would continue. "I am extremely proud of the accomplishments of UMC's world-class team, and you can expect to see a positive impact on our operating results in the near future," he concluded.

- Peter Clarke
EE Times




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