China’s Top Chipmaker Loses Chairman in Latest Executive Exit

(Bloomberg) -- Semiconductor Manufacturing International Corp.’s chairman has resigned about a year after formally assuming his role, marking the latest high-profile departure from a company rocked by U.S. chip sanctions.

Gao Yonggang quit because of a “job adjustment,” the company said in a Monday exchange filing. Gao, the former chief financial officer who became permanent chairman in March 2022, cedes his post to chemical industry and Communist Party veteran Liu Xunfeng, 58.