TSMC will independently separate its solar and LED businesses

[High-tech LED News] Taiwan's TSMC's board of directors resolved to split its solar and LED business into two 100%-owned subsidiaries. The company said that the purpose is to motivate employees' entrepreneurial spirit and implement professional division of labor to strengthen the company's overall competitiveness and operation. Efficiency, this resolution will be submitted to the shareholders' meeting on June 9 after the decision.

TSMC pointed out that the company will stipulate no more than NT$12.5 billion and RMB2.8 billion respectively as the paid-up capital of the newly established companies “Taiji Solar Energy Co., Ltd.” and “Taiji Solid State Lighting Co., Ltd.”.

In addition, the board of directors approved the adoption of Zou Zhizhuang and Chen Guoci as candidates for independent directors and will hold elections at the shareholders' meeting on June 9.

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