[News] TSMC Arizona Shifts Leadership as Chairman Cassidy Steps Down Ahead of 2026 Retirement

As TSMC ramps up its U.S. expansion, its subsidiary TSMC Arizona Corporation has announced a major leadership shift. According to the Central News Agency, Rick Cassidy has stepped down as Chairman and Director after 27 years with the company. Rose Castanares, President of TSMC Arizona, has been elected to fill his seat on the board, the report adds.

As per the Economic Daily News, Rick Cassidy has transitioned to Executive Advisor and will officially retire in January 2026, though no successor for the Chairman role has been named. Meanwhile, Commercial Times reports that his retirement is seen as signaling a new chapter in TSMC’s U.S. expansion.

Rose Castanares, who now joins the board in Cassidy’s place, brings extensive experience in TSMC’s U.S. operations. As Commercial Times highlights, she has served in key roles including Vice President and Senior Vice President at TSMC North America, and Executive Vice President at TSMC Arizona.

According to Liberty Times, Cassidy joined TSMC’s North America subsidiary in 1997 as VP of Customer Service, later becoming its President and CEO in 2005. By 2008, he was promoted to Vice President at TSMC, overseeing North American operations, and eventually rose to Senior Vice President.

Notably, Cassidy served as General Manager of TSMC Arizona from December 2020 to April 2023, and has held the Chairman role since then, the report suggests. A former U.S. Army officer, he holds a bachelor’s degree in engineering from West Point, according to the reports.

It is also worth noting that Microchip announced earlier that Cassidy would join its Board of Directors effective May 2, 2025.

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(Photo credit: TSMC)