New Delhi: Vedanta-Foxconn Semiconductors Ltd (VFSL) on Thursday, announced that it has appointed Mike Young as senior vice president of the Project Management Office and Manufacturing Operations.
The joint venture between Foxconn and Vedanta Group is preparing to establish its first semiconductor fabrication facility in India.
“Mike Young brings with him 34 years of extensive experience in front-end semiconductor manufacturing across multiple geographies with significant contribution to two high volume startups,” said David Reed, CEO, VFSL.
“Young will play a critical role in establishing best-in-class semiconductor manufacturing processes and operations,” he added.
Before joining Vedanta, Mike Young took a short sabbatical after serving as the CEO of Systems on Silicon Manufacturing Company (SSMC) in Singapore. He previously held the position of CEO at X-FAB Sarawak in Malaysia.
“The global semiconductor industry is projected to reach a trillion dollars in the coming decade, and India is at the cusp of becoming a major semiconductor player,” said Mike Young.
“I am excited about this opportunity to work for a joint venture between two leading industry players, namely Vedanta and Foxconn, and look forward to creating global impact with the India semiconductor fab,” he added.
VFSL has been actively strengthening its leadership team, having previously appointed industry veteran David Reed as CEO, Lawrence (Wong Chee Yoong) as Senior Director of Human Resources, and recently hiring Terry Daly, a veteran from IBM, as an Advisor.
The joint venture between Vedanta Group and Foxconn plans to start generating revenue from its semiconductor fabrication unit in India by the fiscal year 2027. Construction of the plant is scheduled to commence by the end of the current fiscal year, as reported earlier by Mint.
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Updated: 26 May 2023, 01:24 AM IST
