SHARES of Semiconductor Manufacturing International Corp. (SMIC) fell Friday after the firm said its vice chairman has resigned in a leadership reshuffle less than a year after he took the role.

Chiang Shang-Yi, a former research director at larger rival Taiwan Semiconductor Manufacturing Co. (TSMC), joined SMIC in late December.

The company said Chiang, who is in his mid-70s, had resigned from his vice chairman position as well as from the board with effect from Thursday in order to spend more time with his family.

His departure comes just two months after SMIC’s chairman, Zhou Zixue, also resigned, citing health reasons.

Besides Chiang, three other members resigned from the board, including co-chief executive officer Liang Mong Song, who had threatened to quit in December last year.

Liang would remain in his executive role, SMIC said. Liang, a fellow TSMC alumnus, was considered integral to SMIC’s efforts to become a major player in the business of fabricating wafers for global giants.

The resignations were not due to any disagreements with the board and the company did not expect the moves to have a material impact on its operations, SMIC said.

SMIC, the Chinese mainland’s largest contract chipmaker that is partly backed by a State-affiliated chip fund, is at the forefront of the mainland’s charge to catch up with Japan, South Korea and the United States in chip technology.

(SD-Agencies)