Taipei, Taiwan, R.O.C. - April 22, 2009 - United Microelectronics Corporation (TWSE: 2303, NYSE: UMC) announced the approval of nine candidates for director nomination at its board meeting held today, including four independent directors and one outside director. Board director re-election will be held during the company's 2009 annual shareholders meeting in June. Candidates for independent directors include three current independent directors: Mr. Chun-Yen Chang, Prof. Chung Laung Liu and Prof. Paul S.C. Hsu, and one new nominee, Prof. Cheng-Li Huang. |
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Adhering to a successful, well-established system has always been one of UMC's highest operating principles, with efficient board operations being an integral part of this effort. Following SOX404 regulations, UMC had already established an audit committee formed by independent directors as an internal control system. UMC also plans to establish a supervision committee formed by all independent directors that conforms to Taiwan's regulations. In addition, at the next board meeting UMC will add another independent director bringing the total to four, and will appoint one outside director. Since the number of independent and outside directors will account for more than half of the 9 seats of board, this action will significantly help to increase operating transparency as well as maintain the interaction and balance between the board and the management team. By continuing to enhance the board and corporate governance structure, UMC hopes to further increase the board's efficiency and supervision to protect shareholders' value. |
About UMC |
UMC (NYSE: UMC, TSE: 2303) is a leading global semiconductor foundry that provides advanced technology and manufacturing services for applications spanning every major sector of the IC industry. UMC's customer-driven foundry solutions allow chip designers to leverage the strength of the company's leading-edge processes, which include production proven 65nm, 45/40nm, mixed signal/RFCMOS, and a wide range of specialty technologies. Production is supported through 10 wafer manufacturing facilities that include two advanced 300mm fabs; Fab 12A in Taiwan and Singapore-based Fab 12i are both in volume production for a variety of customer products. The company employs approximately 12,000 people worldwide and has offices in Taiwan, Japan, Singapore, Europe, and the United States. UMC can be found on the web at http://www.umc.com. |
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