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CHARTERED
PRESIDENT & CEO BARRY WAITE
TAKES TEMPORARY MEDICAL LEAVE TO RECOVER FROM SURGERY
Waite
expected to return within two months;
Office of the President well-positioned to cover during
CEO's absence
MILPITAS, Calif. - March 1, 2001 - Chartered Semiconductor
Manufacturing (Nasdaq: CHRT and SGX-ST: Chartered) today
announced that company president & CEO Barry Waite has
taken a temporary leave of absence to recover from surgery.
The Company's Office of the President, a four-person
executive management team that already acts as the company's
collaborative decision-making authority, will assume
additional responsibilities during Mr. Waite's temporary
absence.
Waite underwent surgery Thursday, March 1 in the United
States, to remove what is believed to be a non-malignant
growth on his heart. The growth was detected during
a medical exam on Tuesday of this week. The prognosis
is excellent and Waite is expected to return to work
within two months.
"The Office of the President structure has been in place
and operating very effectively since last year. I am
confident in the decision-making abilities of our executive
team, and I don't foresee any interruption in Chartered's
day-to-day operations during my absence," said Waite.
Created in August 2000 as a foundation for future growth,
Chartered's Office of the President expands the decision-making
bandwidth by which the company operates, resulting in
an increased responsiveness to customers on a global
basis. In addition to Waite, the Office of the President
consists of Rob Baxter, senior vice president of business
operations; John Docherty, senior vice president of
manufacturing and technology operations; and Chia Song
Hwee, senior vice president, chief financial officer,
and chief administrative officer. This group draws on
close to 100 years of combined experience in the semiconductor
industry, with strong backgrounds and track records
of success in business operations, finance, manufacturing,
and technology.
About Chartered
Chartered Semiconductor Manufacturing is one of the
world's top three silicon foundries. The Company's business
model is distinguished by its strategy to build trusted
long-term relationships, where manufacturing is part
of a larger customer-service focus that includes joint
development and implementation of new process technologies
supporting novel applications within the broad communications
market. Chartered operates five semiconductor fabrication
facilities at its Singapore headquarters, with a sixth
fab under construction.
A Company with both global presence and perspective,
Chartered is traded on both the Nasdaq Stock Market
in the United States (Nasdaq: CHRT) and on the Singapore
Exchange Securities Trading Limited in Singapore (SGX-ST:
CHARTERED). The Company reported 2000 revenues of over
US$1.1 billion. More than 4,300 Chartered employees
are based at 11 locations around the world. Information
about Chartered Semiconductor Manufacturing can be found
at www.charteredsemi.com
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