“Sound corporate governance is rooted in a strong board of directors and we believe Ms. Fiorina’s wealth of experience in leading world-class companies will bring unique value to the board,” said Morris Chang, TSMC chairman in a statement.

TSMC already has three independent board members: former British Telecom CEO Sir Peter Bonfield, Massachusetts Institute of Technology Professor Dr. Lester Thurow, and former Acer Group Chairman Stan Shih. Fiorina is expected to become the fourth independent board member and serve on both the audit and compensation committees.

TSMC shareholders are scheduled to elect the company’s board of directors at the 2006 annual general meeting on May 16.

Morris Chang first made Ms. Fiorina’s acquaintance in 1999 and they both serve as trustees of the Massachusetts Institute of Technology. After joining HP in July 1999, Fiorina led a major reorganization of the company including a controversial merger with Compaq Computer Corp. Prior to joining HP, Fiorina spent nearly 20 years at AT&T and Lucent Technologies, where she held a number of senior leadership positions and directed Lucent's initial public offering and subsequent spin-off from AT&T.

Fiorina is working on a book about her career and her views on such issues as what constitutes a leader, how women can thrive in business and the role technology will continue to play in reshaping our world. It is due be released in the fall of 2006.

By: DocMemory
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