Zhang Zhongmou, chairman of TSMC, who is expected to retire in June of this year, appeared at the Far Eastern Hotel in Taipei on the afternoon of January 18, and presided over the presentation of the legal person for the last time.
His presence on the stage was more relaxed than ever before, and most of the questions were addressed to co-CEO Liu Deyin and Wei Zhejia, who saw that he had gradually let go of his day-to-day operations.
After all the questions and answers were over, Zhang Zhongmou also made a sentimental conclusion in English: "... I have presided over this meeting for nearly 30 years and I have enjoyed this wonderful time and I hope you have a wonderful time. I will miss everyone , thank you very much. "
Zhang Zhongmou's farewell law said that day and the next three days, TSMC share price soared 9.4%, the market value increased by nearly 700 billion yuan in one fell swoop.
An unexpected start, the mighty bitcoin mining demand from the mighty, so that major foreign investors have raised TSMC's target price.
"We did not know bitcoin a year ago. As a result, we now buy a lot of wafers with us," TSMC chairman Zhang Zhongmou also said in an interview with "The World" three weeks ago.
The timely emergence of this wave of urgent demand, thanks to China's three major bitcoin mining chip company quickly sprang up.
Expand the territory: 30 years of accumulation, to create a total environment
However, if it was not for 30 years that Zhang Zhongzuo spent 30 years to build a large-scale, sophisticated and super-efficient professional integrated circuit manufacturing service platform, these new-found semiconductor novices could not shake the world's science and technology map in only a year.
"We ourselves do not understand the terminal application, let the customers discover it, and work with us," he said. "They are good, we are good."
This is precisely the "flywheel effect" described by author Collins, author of "From A to A +," in which he wrote: "From the outset, it took a lot of effort to start the flywheel, and as long as it moves forward in a consistent direction Flywheel, after a long time, flywheel accumulated kinetic energy, you can quickly Mercedes-Benz. "
▲ face nude back in June of this year, Zhang Zhongmou frankly, TSMC's blueprint for the development of the future looks good, there is no lethargy.
Zhang Zhongzhuo spent 30 years of hard work. Now that TSMC is worth about 7 trillion yuan, the huge flywheel at high speed accumulates enormous momentum and makes TSMC "no problem for at least another 20 years," he said.
Retirement "Three Noes": No directors, no consultants, no Rong Dong
In his career peak, he decided to choose "nude retreat" and took the time off to devote himself to life-long work in Taiwan. In his interview with "World", he emphasized that after retirement, he would not do anything related to the company and " No director, no consultant, nor honorary chairman.
Because he observed that in the United States and Taiwan's business community, many outstanding entrepreneurs who have given their battles are still reluctant to say anything about power. "This is not good for the company and bad for those who are not willing to give up, but he does not know it. "He said.
He plans to take the lead by the now two co-CEOs, Liu De-yin and Wei Zhe-chiah (see the table below), to take over as the "dual chiefs" of the chairman and president and the original enterprises respectively.
TSMC will usher in the future without Zhang Zhongmou, the outside world has many questions and concerns, in the "world" interview process, Zhang Zhong Mou also responded.
The following is an interview with the essence of the extract:
Q: TSMC's management team holds a small shareholding in the company, and foreign ownership of Bacheng Cheng. After you retire, once there are private equity funds or other forces, to share or buy TSMC, how to do?
A: If the price is good, I will sell it to him. I think this is another (bad) culture in Taiwan.
TSMC is now more than 220 shares (Note: January 29 closing nearly 260 yuan).
If someone out to 300, 300 private equity funds to buy, (nearly 8 trillion Taiwanese dollars) the total amount will be the highest in history, did not happen. We are now the market value is too large, if anyone wants to buy us, in theory, but not a Realistic exposition.
But some people may want to buy a 5% or so, into the board of directors that, to be honest, the company also has a strategy of resistance.Can shrink the board of directors.
We can now dominate roughly 70% of the shares in the market, and if the re-election of directors, may need to hold 10% of the shares to be elected to a seat.If you spent 200 billion dollars only as a director, not worth it, unlikely.
Q: But a lot of people in Taiwan think that TSMC is too important to Taiwan and even the backing of Taiwan's national defense, so will you worry about TSMC going to Taiwan more and more after you retire?
A: You say "a lot of people, a lot of people." Do they have to buy our stocks?
Q: There is a saying in the business world now that companies with stable support from major shareholders will be able to make long-term peace and stability and will not appear as common faults in the current U.S. businesses. In order to please the capital markets in pursuit of short-term performance, they will eventually lose their long-term competitiveness. , You will worry about the future founder is not in the right place, go wrong?
answer:
Actually, you do not need to treat the enterprise as a prosperous and prosperous business forever, and it is not like this. As RCA has long put on the soundtrack, the strange things are not as good as before.
When Empowerment: Customers are good, we will be good
TSMC has a very good business model, and after several years more and more feel good.We are an enabler, and we focus on a relatively narrow and relatively well-controlled field, that is, semiconductor process technology, so that our customers You can focus on innovation.
Andy Lau recently wrote a preview of the Chinese version of "Refreshing the Future" by Microsoft CEO Nedra, a Microsoft CEO out of you. ("World Magazine") He said that Microsoft wants to enable other people, this is a bit similar to that of TSMC, and I agree. His Chinese translation for "empowerment." Microsoft empowerment, TSMC at least empower our customers.
▲ January 18, Zhang Zhongmou last presided over the TSMC said at the meeting, he "I will miss you" emotional conclusion.
We have been in business for 30 years, setting up the US market in the first 10 years and the second 10 years, empowering customers who provide PC components, mainly graphics chips like nVidia. At that time we did not expect the graphics market It will be so good, that is to help the graphics industry to do wafer .Hello, we are alright.
In the third 10 years, we have been able to power mobile devices, Qualcomm, Broadcom, and Apple. Occasionally surprising gains were made. A year ago, we did not know bitcoin at all. But this year, Bitcoin Mining followed us. We bought a lot of wafers, and we ourselves do not know the final application, letting my customers find it, they are good, we are good.
TSMC another 20 years I think there should be no problem if over 50 years, I think TSMC will still exist, but not necessarily keep growing.
What do you just say what the impact of major shareholders? I absolutely feel that a stress meritocracy (strength) of the enterprises, such as IBM, GE, now like Microsoft, Amazon, Google are also meritocracy. The kind of company contingency improvement, More than one company with big shareholder support.
Q: You are about to leave TSMC in June 2018, is there anything you can not let go?
A: The board of directors in February 2018, this is the last routine board I presided over. There will be a special meeting later, but I will not count that.
This board, I will publish a TSMC roadmap (development blueprint) in the next few years. Has been prepared, and now looks good, so that I can not let go? I have nothing to let go.
Source: World magazine