| | JUNE 20248IN FOCUSFAIRFAX FINANCIAL APPOINTS GOBINATH ATHAPPAN AS NEW CEO OF ASIAQUALCOMM CEO CONSIDERS SAMSUNG FOR CHIP FOUNDRY DIVERSIFICATIONFairfax Financial Holdings has announced Gobinath Athappan as the new chairman and chief executive officer of Fairfax Asia. Additionally, Athappan will become chairman of Singapore Re, subject to regulatory approval. Athappan has been a part of Fairfax and Fairfax Asia for 23 years. Throughout his tenure, he has held significant roles, including CEO positions at Fairfax's Falcon Insurance in Hong Kong and Pacific Insurance in Malaysia. Since 2015, he has served as vice-chairman of Fairfax Asia.Prem Watsa, chairman and CEO of Fairfax, welcomed Athappan to his new role and praised his contributions to the company. Watsa highlighted Athappan's integral role in building Fairfax Asia and his extensive industry experience. "Gobi has done an outstanding job for Fairfax and has been an integral part of building Fairfax Asia. Gobi brings many years of industry experience and has been an ambassador of the culture of Fairfax. We are very excited for the future of Fairfax Asia under Gobi's leadership," Watsa stated.Fairfax is a holding company engaged in property and casualty insurance and reinsurance through its subsidiaries, as well as associated investment management. In May, Fairfax mourned the passing of Ramaswamy Athappan, the previous chairman and CEO of Fairfax Asia. He was a key figure in developing Fairfax's insurance operations in Southeast Asia. Cristiano Amon, the CEO of Qualcomm, a prominent US semiconductor company, has been contemplating a strategic collaboration with Samsung Electronics in the realm of semiconductor manufacturing. This potential collaboration has surfaced amidst discussions about the risks associated with relying solely on Taiwan Semiconductor Manufacturing Company (TSMC) for smartphone chip production.During a media briefing held at the W Hotel in Taipei, Taiwan, Amon responded to a question from a foreign journalist regarding the risks involved in depending solely on TSMC. He expressed his consideration for adopting a dual-sourcing production strategy, involving both TSMC and Samsung Electronics.Amon emphasized the importance of TSMC's foundry production currently but acknowledged the potential benefits of diversifying production partners. He stated that while transitioning to a dual-sourcing model would require significant effort, Qualcomm is open to collaboration with both TSMC and Samsung Electronics, signalling a commitment to exploring this approach further.This potential collaboration between Qualcomm and Samsung Electronics represents a strategic move to mitigate risks associated with single-sourcing production and leverage the strengths of different semiconductor manufacturers. It reflects Qualcomm's commitment to ensuring the reliability and competitiveness of its semiconductor supply chain while exploring avenues for innovation and advancement in chip manufacturing technology.
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