By Kosaku Narioka

Taiwan Semiconductor Manufacturing Co. is nominating two former chiefs of major U.S. companies and a former premier of Taiwan to its board as it expands manufacturing capacity abroad amid diplomatic tensions between the U.S. and China.

The world's largest contract chip maker said Friday that it is nominating Ursula Burns, a former chief executive of Xerox, and Lynn Elsenhans, a former chief executive of U.S. gas company Sunoco, to its board, as well as Chuan Lin, a former Taiwanese premier.

TSMC said the three candidates, along with seven other current directors, will stand for election at its annual general shareholders' meeting on June 4.

Current directors Kok-Choo Chen and Yancey Hai will retire from the board, the company said.

TSMC previously said Chairman Mark Liu would step down after the shareholders' meeting.

Write to Kosaku Narioka at

(END) Dow Jones Newswires

04-12-24 0356ET