- Push-out Score suggests signs for push-out forces
- After almost five years on the job
- Accolades, praise, thanks and good wishes for Yen
- SC Chien and Jason Wang taking over
- Yen spoke at length and said 116 words
(exechange) — Hsinchu, Taiwan, June 14, 2017 — Po-Wen Yen, chief executive of UMC, leaves. It is an abrupt change. As announced by United Microelectronics Corporation in a news release and in a regulatory filing published on Wednesday, June 14, 2017, Po-Wen Yen leaves the post as Chief Executive Officer at the semiconductor foundry after almost five years on the job, effective immediately.
Yen’s duties are taken over by SC Chien and Jason Wang, most recently senior vice presidents at United Microelectronics Corporation.
No reason given
In the announcement, UMC did not explicitly explain the obviously compelling reason for Yen’s sudden move, opening the door for speculation.
Precise information about the future plans of Yen was not immediately available.
Generally speaking, it is often an alarm signal for shareholders when a CEO leaves the post abruptly and without a reasonable explanation.
UMC said: “Po-Wen Yen, the Chief Executive Officer, has retired.”
UMC announced that its board of directors has appointed senior vice presidents SC Chien and Jason Wang as co-presidents of the company, following Po-Wen Yen’s retirement as UMC CEO.
Chaired by Stan Hung
United Microelectronics Corporation is chaired by Stan Hung.
Stan Hung is a director, the Chief Strategy Officer and the Chairman of the Company.
On the job as CEO since 2012
Po-wen Yen served as the Chief Executive Officer of United Microelectronics Corporation since November 19, 2012.
Prior to becoming the Company’s Chief Executive Officer, Yen was the Company’s senior vice president responsible for 12-inch operations.
Yen is a representative of Hsun Chieh Investment Co.
Yen joined the Company in 1986 and was responsible for the operation of Fabs 8A and 8C.
He also served as the vice president for UMC-SG, the Company’s 300mm operation in Singapore.
He is also a director of Fortune Venture Capital Corporation, TLC Capital Co., and UMC New Business Investment Corporation.
In 2003, Yen received the National Manager Excellence Award from Chinese Professional Management Association.
Yen earned a bachelor’s degree in Chemical Engineering from National Tsing Hua University and his master’s degree in chemical engineering from National Taiwan University.
Push-out Score suggests signs for push-out forces
It is not completely certain what forces eventually triggered Po-Wen Yen’s sudden move.
The Push-out Score™ determined by exechange suggests that push-out forces may have contributed to the management change.
Read the full story in the exechange report 25.2017 ($).