Monday, October 18, 2010
Hua Hong over Grace
The always pending but never completed merger of Grace and Hua Hong is a step closer to being realized now that Ulrich Schumacher has stepped down as CEO and President of Grace and Gacre VP and former Hua Hong executive, William Yu Wang, has taken over as President. It sounds if Schumacher went down fighting as he tried to become CEO of the Grace-Hua Hong JV fab, Huali, before resigning as CEO and President of Grace (link here). Could the fact that the CEO position is still vacant mean Grace anticipates a full merger with Hua Hong sooner rather than later?