TSMC Proposes Board Expansion to 12 Directors

Taiwan Semiconductor Manufacturing Company (TSMC), a global leader in semiconductor manufacturing, is set to propose an amendment to its articles of incorporation to expand its board of directors. The company plans to increase the maximum number of directors from the current ten to twelve, a move aimed at enhancing its ability to recruit individuals with diverse expertise and backgrounds.

The proposal will be presented to shareholders for approval at the upcoming annual general meeting scheduled for June 4, 2026. This strategic decision reflects TSMC's proactive approach to corporate governance and its commitment to adapting to the rapidly evolving global business environment. The expansion is anticipated to be implemented during the board elections next year, with expectations of new director appointments and potentially some current directors not seeking re-election.

TSMC has a long-standing tradition of strong corporate governance, initiated by its founder, Morris Chang. The company has consistently attracted internationally renowned figures to serve as independent directors. Currently, the board comprises ten directors, seven of whom are independent. This includes Chairman C.C. Wei and Director F.C. Tseng, alongside prominent international figures such as Peter Bonfield, Michael Splinter, Moses Gafni, Raphael Lefeuvre, Ursula Burns, and Lynn Elsenhans, as well as former finance minister Lin Chuan.

This proposed increase in board size underscores TSMC's global stature and its dedication to maintaining a world-class board. By allowing for more directors, TSMC can better leverage a wider range of insights and experiences to navigate the complexities of the semiconductor industry and drive future innovation. This move is a testament to TSMC's forward-thinking strategy and its commitment to robust governance as it continues to lead the world in advanced chip manufacturing.