Semiconductor Manufacturing International Corporation (SMIC) announced on Monday that Gao Yonggang had resigned from the positions of chair and executive director, with deputy chair Liu Xunfeng stepping up as the new leader. Gao was appointed as chair of SMIC in September 2021, when his predecessor Zhou Zixue resigned due to health reasons. Founded in 2000, Shanghai-based SMIC has become the largest contract chip maker in mainland China. TSMC (with 60.1% of the global market), Samsung (12.4%), UMC (6.6%), Global Foundries (6.4%), and SMIC (5.3%) were the world’s top five chip manufacturers by revenue in the first quarter of 2023, according to market intelligence platform TrendForce. In 2022, SMIC saw its revenue grow 33.6% year-on-year to $7.2 billion, with net profits attributable to shareholders reaching $1.8 billion, according to its annual financial report. [Caixin, in Chinese]