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Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Government Education Search Search: TSMC's Chang to be CEO again, eyes green energy Reuters - Friday, June 12 * Foundry business to grow to $14-15 bln in revenue by 2018 ADVERTISEMENT * New non-foundry business to have revenue of $2 bln by then * May spin off new business in future By Baker Li TAIPEI, June 11 - Taiwan Semiconductor Manufacturing Co Ltd <2330.TW>, the world's top contract chip maker, expects its foundry business to grow steadily over the next 10 years, and plans to venture into new areas that it hopes will fuel growth further, its chairman said on Thursday. TSMC is eyeing new pastures in the green energy sector with plans to venture into LEDs and solar energy as the company ponders diversification and seeks long-term growth drivers beyond chip foundries. Revenue from TSMC's foundry business will grow by as much as 50 percent to $14-$15 billion by 2018, Chairman Morris Chang told a news conference, up from about $10 billion in 2008. Chang, who will serve as the firm's chief executive again starting from Friday, also said its new non-foundry business would garner revenue of another $2 billion by then. "There will be many challenges in future and one of them is to create new businesses to fuel TSMC's growth. Growth in the global semiconductor industry is already slowing," Chang said as he aims to steer TSMC's ride on the sector's nascent recovery. Semiconductor sales will only recover to 2008 levels of around $20 billion in 2012, Chang said. TSMC claims about half of the global sales now. "We hope to find business opportunities to enter the green energy sector," said Rick Tsai, TSMC's incumbent CEO. "That will help fuel the company's growth and profit." TSMC said it did not rule out spinning off its new businesses in the future. CHANG AT THE HELM AGAIN Chang will replace Tsai, who will serve as president of TSMC's new business development organisation, reporting directly to him from Friday. TSMC's board also re-elected Chang as chairman on Thursday, a day after the foundry veteran said the worst of the global semiconductor industry slump had passed, and after TSMC posted its highest monthly sales in seven months. [ID:nTP240768] TSMC was the only foundry out of the world's top four that made a profit in the first quarter, when smaller rivals UMC <2303.TW> <UMC.N>, Chartered Semiconductor <CSMF.SI> and SMIC <0981.HK> were in the red. UBS semiconductor analyst Jonah Cheng said TSMC had been good at corporate management and TSMC's new appointments would have little impact on the company's business. "Chang has been monitoring changes in the semiconductor market but he might have to spend more time on that when he becomes CEO again," Cheng said. Chang was TSMC's chairman and CEO before Tsai was appointed as CEO in July 2005. "Looking to the future, TSMC needs to develop long-term growth opportunities and this needs the best qualified manager to take charge," Chang said. "Recognising this, I have asked Dr. Tsai to devote all his energy to this task and he has accepted the assignment." TSMC's Taipei-listed shares closed up 0.17 percent on Thursday, underperforming the main TAIEX's <.TWII> 1.63 percent gain. UMC shares fell 3.92 percent. Email Story IM Story Printable View Blog This Sign in to recommend this article » 0 users recommend Related Articles: Climate Change US climate envoy: China seeks top US technologyAP - 1 hour 31 minutes ago Climate change seen to worsen disaster risks for poorReuters - Friday, June 12 TSMC's Chang to be CEO again, eyes green energyReuters - Friday, June 12 Full climate deal 'unlikely' in CopenhagenAFP - Thursday, June 11 Related Articles: Singapore Badminton: Top seed Lee Chong Wei out of Singapore OpenChannel NewsAsia - 2 hours 26 minutes ago Singapore assists Myanmar in post—cyclone recovery effortsChannel NewsAsia - 2 hours 48 minutes ago MM Lee meets former Malaysian PM Abdullah BadawiChannel NewsAsia - Friday, June 12 Mobile technology to take centre stage at BroadcastAsia 2009Channel NewsAsia - Friday, June 12 Two firms misuse Green Label issued by SECChannel NewsAsia - Friday, June 12 Related Full Coverage climate change climate change All Full Coverage Most Popular – Singapore Viewed Ramsay eats humble pie after mum scolds him Dumped mattress lands cash in trash in Israel Carradine may have died from sex act: Thai police German retail giant goes bust, 43,000 jobs at risk Earth-Venus smash-up possible in 3.5 billion years: study View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! 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