Return of TY Chiu

According to HuaHong NEC's website, TY Chiu has returned to Shanghai and the firm to take over as CEO effective February 1. Despite TY's past success in running fabs, I think HuaHong NEC will be hard to turn around. Still, given the state's strong support, HuaHong NEC will not collapse as many private IC firms surely will over the course of the current downturn.