ProMOS Technologies has announced that Goo Choi, senior VP of Korea's Hynix Semiconductor, will resign from the Taiwan-based DRAM maker's board of directors effective June 18.
ProMOS's announcement was followed by media report today speculating that Hynix would withdraw from ProMOS's board of directors, and give up its holdings in the company.
In response, ProMOS, in a filing with the Taiwan Stock Exchange (TSE), clarified that it has received a notice from Hynix that the Korea partner will appoint a new representative to replace Choi on its board, and the candidate will be nominated subject to approval by ProMOS's shareholders.
ProMOS said the speculation about Hynix planning to sell its entire stake in ProMOS is groundless.
ProMOS's upcoming shareholder meeting will be held on June 18.