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Wangru Chen
the helm of a boat on the river died of illness, or cause SMIC Semiconductor Co., Ltd. (00981.HK, hereinafter referred to as "SMIC") management personnel earthquake.
sources yesterday on the "First Financial Daily" said SMIC President and CEO Dr. Wang may choose to leave, and SMIC is also Director of the Board of Directors may be some changes. In this regard,air griffey max 1 Fresh water, SMIC in the absence of response.
"earthquake" sign: the directors voted?
yesterday, Dr. Wang did not answer phone calls from reporters. But the sources close to him, prompting him to make the reasons for this consideration, should be June 29 Annual General Meeting re-elected directors of outcomes.
shareholders have a number of motions that day,jordan heels shoes, one of which involved re-election of Dr. Wang, the first class of high-Yong Kong director. But SMIC poll released yesterday showed that the general meeting of shareholders, as opposed to more than 50% votes, Dr. Wang director role has not been passed; the other directors, major shareholders holding a representative of the high Tang Yonggang, places 97.50% rate of support re-elected.
the sources, the investment Fang,new york hats, Walden investment,griffey 1, the United States even as the NEAs fourth-largest shareholder of TSMCs competitors are supported by Dr. Wang, voted for the second and third largest shareholder in the cast,custom new era hats, Shanghai Industrial choose to abstain,Nike heels, and the largest shareholder of Dr. Wang Tang holding the key to re-cast the opposition vote. As the number of attending shareholders is far from 100 percent in the end, Dr. Wang received only 41.79 percent of the vote.
these sources, after Dr. Wang is the identity of the board of executive directors, and as the river boats death, SMIC chairman is vacant, not any of the board of directors now executive director of Semiconductor Manufacturing International Board of Directors a power vacuum.
SMIC is clearly aware of this situation the Board of Directors. Yesterdays announcement shows that it is considering "the impact has not appointed executive director," and,new era hats, if significant progress will be announced. Dr. Wang
unsuccessful corporate governance or intuitive reasons. Dr. Wang, who is also president of SMIC, CEO, executive directors and other key positions, set policy management, implementation in one, power or too concentrated. SMIC in the past have experienced a situation of separation of powers, when Chang multiple roles, corporate governance needs to give up because after the chairman position.
But this situation happened boat in the river died the next day, but it seemed a bit unusual.
and since the boat on the river should be invited into the SMIC, the team of Dr. Wang in the reconstruction, stability, customer confidence, the Executive Board played a key role in strategy. In 2010, SMIC has a five-year losing money out of the situation.
defeat behind: major shareholders and management of conflicts
"major shareholders and management team is a big contradiction between, on the river if the boat was still alive, should not happen." the source said.
the sources, although the SMIC Datang holding major shareholder, but not holding it in only two non-executive board director Chen Shan-chi, Ko Wing-Kong. As the holding is not a pure strategic investors Datang, theres the business entity,kids griffey, may want to reverse the pure foundry SMIC mode.
a SMIC executive, told reporters, SMIC has been profitable since,dunk heels, and is continuing to introduce new investors,air jordan high heels chairman,cheap caps, which is the largest shareholder controlling Datang threat, it may also be worried about interest continuous dilution.
reporter noted that when the river boat, into the cast, which agreed to inject $ 250 million, the Tang holding was soon signed with SMIC additional subscription agreement to subscribe 8497 shares of convertible preferred shares and identify preferred stock warrants. If fully converted, Datang International will pay about $ 450 million.
the outside world that this is in the betting capital of Tang holding the counter. If not participation,Nike Air Griffey Max II, Datang controlling interest will be diluted to about 17%, as in all post-conversion, is still more than 19% stake.
"you refer to the United States shareholder and the management struggle,air griffey max gd but not necessarily related., a bit like thinking." the SMIC executives said in the past year,new griffey, river boat, Dr. Wang has been in constant communication with multiple investors.
day before yesterday, the other shareholders voting results appeared to support the motion of large shareholders on the potential conflict with foreign capital: Board to allot, issue, grant, distribute an additional 20% of SMIC shares, the Board of Directors to repurchase shares not exceeding 10% authorization, are faced with blocking, against more than 50%.
the source said,world series hats, there is one detail revealed Datang Holdings would like to further strengthen the control of movement. In the two directors of photo courtesy of New Lawrence Lau vote,lebron james shoes, Datang holding on photo courtesy of two directors have voted against it. According to reporter,griffeys shoes COFCO, photo courtesy of the boat on the river during his lifetime best to introduce the candidate.