TAIPEI (TVBS News) — Taiwan Semiconductor Manufacturing Company's Arizona operation announced a major leadership shakeup on Wednesday (July 2) as Chairman Rick Cassidy retired after nearly three decades with the chipmaking giant. Cassidy, a pivotal figure in developing the semiconductor industry's fabless design model that revolutionized chip production, will transition to an advisory role while the company searches for his successor.
In an evening statement released Tuesday, the semiconductor manufacturing powerhouse disclosed that shareholders had voted to relieve Cassidy of his duties as TSMC Arizona's chairman and director. Rose Castanares, who currently serves as President of TSMC Arizona, will step into the role of director, though the company remained silent on who might assume the chairmanship. Cassidy's tenure with TSMC began in 1997 at the company's North American subsidiary, where he initially served as vice president of customer management before ascending to general manager and CEO by 2005.
Cassidy's leadership at TSMC Arizona began in December 2020 when he was appointed president, a position he held until April 2023 before his elevation to chairman. His departure marks the end of a distinguished career that extends beyond the semiconductor industry. Before joining the corporate world, Cassidy served as an officer in the United States Army and earned his engineering degree from the prestigious United States Military Academy at West Point, bringing military precision to his corporate leadership style. ◼