Chris Yu
SemiLEDsAbout Chris Yu
Dr. Chris Chang Yu, 67, is an independent director of SemiLEDs (LEDS) since July 2024, designated by the Board as an “audit committee financial expert.” He holds bachelor’s and master’s degrees in physics from the University of Missouri–Kansas City and a Ph.D. in physics from Pennsylvania State University. His background spans semiconductor manufacturing (SMIC technical director), CMP materials (Cabot Microelectronics VP R&D), and public company leadership (Fresh2 Group/AnPac Bio-Medical Science) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Fresh2 Group Limited (formerly AnPac Bio-Medical Science Co., Ltd.) | Chairman & CEO; later Co‑Chairman; Co‑CEO | Jan 2010–Apr 2022 (Chairman & CEO); Co‑Chairman May 2022–Oct 2022; Co‑CEO May 2022–May 2023 | Public company executive experience; led strategy and operations |
| Semiconductor Manufacturing International Corporation (SMIC) | Technical Director | 2002–2004 | Semiconductor process leadership |
| Cabot Microelectronics Corporation | Vice President, R&D | Not specified | CMP technology leadership |
| Anji Microelectronics (Shanghai) Co., Ltd. | Co‑founder | 2004 | Materials/semiconductor entrepreneurship |
External Roles
| Organization | Role | Status |
|---|---|---|
| CRS Holding Inc. | Chairman of the Board | Current |
| Changhe Bio‑Medical Science Co., Ltd | Chairman; General Manager | Current |
| Ningkasai Science (Shanghai) Co., Ltd | Chairman | Current |
| Changwei System Science (Shanghai) Co., Ltd | Chairman | Current |
| Anpac Bio‑Medical Science (Lishui) Co., Ltd | Chairman | Current |
| Advanced Life Therapeutics Co., Ltd | Chairman | Current |
| New‑Herizon Bio‑Medical Science Co., Ltd | Chairman | Current |
| Anpac Bio‑Medical Science (Shanghai) Co., Ltd | Executive Director | Current |
| Lishui Anpac Medical Laboratory Co., Ltd | Executive Director | Current |
| Shiji (Hainan) Medical Technology Co., Ltd | Executive Director | Current |
| Shanghai Muqing Anpac Health Technology Co., Ltd | Executive Director | Current |
| Anpac (Shanghai) Health Management Consulting Co., Ltd | Executive Director | Current |
| Annadi Life Technology (Zhejiang) Co., Ltd | Executive Director; General Manager | Current |
| Anji Cayman | Director | Current (as disclosed) |
| Jiaxing Changxin Enterprise Mgmt Partnership (LP) | Executive Partner | Current |
| Jiaxing Ningbeika Enterprise Mgmt Partnership (LP) | Executive Partner | Current |
Board Governance
- Independence: Board determined Dr. Yu qualifies as an independent director under Nasdaq and SEC rules .
- Committee assignments: Audit Committee member in FY2024; Audit Chair is Dr. Hsieh; Compensation and Nominating Chairs are Mr. Simplot .
- Financial expert: Board determined Yu meets “audit committee financial expert” requirements (Reg S‑K) .
- Attendance: Board held 5 meetings in FY2024; all directors except Dr. Yu (joined July 3, 2024) attended at least 75% of aggregate meetings; all directors attended the 2024 annual meeting .
- Leadership structure: Company is a “Controlled Company” (Simplot Taiwan Inc. with voting agreement) and relies on Nasdaq exemptions; no Lead Independent Director; CEO also serves as Chairman .
- Executive sessions: Independent directors met without CEO at the end of every Board meeting in FY2024 .
- Diversity: Board diversity matrix indicates 3 Asian, 1 White, 1 undisclosed; 5 male .
Fixed Compensation
| Component | Amount/Policy | FY2024 Director Table (Yu) |
|---|---|---|
| Annual cash retainer (Board/committee) | None (replaced by RSUs per Nov 11, 2020 policy) | — |
| Meeting fees | None | — |
| Committee chair/member fees | None (policy replaced with RSUs) | — |
| Reimbursements | Travel/lodging reimbursed | Policy applies |
| Attendance requirement | ≥75% for renomination | Yu below 75% in FY2024 due to July start |
Performance Compensation
| Equity Award | Shares | Grant Timing | Vesting | Acceleration | FY2024 Value (Yu) |
|---|---|---|---|---|---|
| Annual RSUs (non‑employee directors) | 5,000 per year | Shortly after annual meeting (2025 meeting: Aug 29, 2025) | Fully vests at earlier of next annual meeting or 1‑year anniversary; service condition | Full vesting upon change‑in‑control | No stock awards reported for Yu in FY2024 |
- Compensation metrics: No performance‑based metrics disclosed for director equity (time‑based RSUs only) .
- Historical context: Prior to Nov 2020, directors received cash retainers and smaller RSU grants; policy shifted to all‑equity, signaling increased alignment .
Other Directorships & Interlocks
| Company | Public/Private (as disclosed) | Potential Interlock/Conflict |
|---|---|---|
| Fresh2 Group Limited (formerly AnPac Bio‑Medical Science) | Public company; Yu former Chairman/CEO, later Co‑Chair/Co‑CEO | No LEDS related‑party transactions disclosed tied to Yu |
| Multiple biomedical companies in China/Taiwan (see External Roles) | Not specified | Time‑commitment risk given numerous chair/executive roles; no LEDS transactions disclosed |
Expertise & Qualifications
- Technical: Semiconductor manufacturing (SMIC), CMP materials R&D (Cabot Microelectronics), IC materials entrepreneurship (Anji Microelectronics) .
- Leadership: Public company CEO/Chair experience (Fresh2/AnPac) .
- Financial oversight: Designated audit committee financial expert .
- Education: BS/MS Physics (University of Missouri–Kansas City), Ph.D. Physics (Penn State) .
Equity Ownership
| Holder | Shares Beneficially Owned | Percent |
|---|---|---|
| Dr. Chris Chang Yu | — (not reported) | <1% (*) |
- Shares outstanding: 8,222,403 as of July 2, 2025 .
- Ownership guidelines: Directors expected to own and hold company stock until retirement from Board service .
- Hedging/pledging: Insider Trading Policy prohibits hedging and derivative transactions; recommends not pledging/margining company stock .
Fixed/Variable Compensation Details (Director)
| Year | Director RSU Grant Size | Grant Date Fair Value (examples) | Notes |
|---|---|---|---|
| FY2024 | 5,000 RSUs policy | Hsieh: $23,850; Gough: $23,850; Yu: — | RSUs vest by 2025 annual meeting; Simplot waives compensation |
| FY2023 | 5,000 RSUs policy | Hsieh: $23,850; Gough: $23,850 | RSUs vested by 2024 annual meeting; policy in effect |
| Pre‑2020 | Cash + 2,500 RSUs | Various (e.g., Hsieh $45,000 cash in 2019) | Policy changed Nov 11, 2020 to all‑equity |
Voting Outcomes (2025 Annual Meeting)
| Proposal | For | Withheld/Against | Broker Non‑Votes | Result |
|---|---|---|---|---|
| Elect Director: Chris Chang Yu | 4,828,066 | 8,731 | 771,703 | Elected |
| Auditor Ratification: YCM CPA Inc. (FY2025) | 5,565,849 | 16,788 (Against) | 0 broker non‑votes; 25,863 Abstain | Ratified |
- Director election slate included three independent directors (Hsieh, Gough, Yu) plus CEO/Chair Doan and Scott R. Simplot .
Related‑Party Transactions & Conflicts
- Item 404 review: Since Sept 1, 2022, no transactions involving directors over the threshold except those disclosed relating to loans and note conversions with CEO Doan and Simplot affiliates; none tied to Dr. Yu .
- Controlled company dynamics: Simplot Taiwan Inc. and affiliates, with voting agreement including CEO Doan/Doan Trust, control ~57% voting power; Board relies on Nasdaq controlled company exemptions (e.g., committee independence requirements) .
Governance Assessment
- Strengths:
- Independent director with audit committee financial expert designation; adds financial oversight rigor .
- All‑equity director compensation (time‑based RSUs) supports shareholder alignment and avoids cash retainers .
- Insider Trading Policy prohibits hedging and discourages pledging/margining, promoting alignment .
- Strong shareholder support in 2025 election (4.828M “for”) .
- Watch items / RED FLAGS:
- Controlled company status with ~57% voting power and no Lead Independent Director may constrain board independence; comp/nom committees not fully independent under exemptions .
- Attendance: Yu did not meet 75% threshold in FY2024 (joined mid‑year), which is a nomination criterion; monitor FY2025 attendance .
- Ownership: No reported beneficial ownership for Yu as of July 2, 2025 (<1%); monitor compliance with director ownership guideline over time .
- Multiple external chair/executive roles across biomedical entities could pose time‑commitment risk; no related LEDS transactions disclosed, but monitor for potential conflicts .
Overall, Dr. Yu brings relevant semiconductor and public company leadership experience and financial oversight credentials. The principal governance risks stem from LEDS’s controlled company structure, his FY2024 attendance shortfall due to late appointment, and currently minimal reported share ownership; continued monitoring of attendance, ownership accumulation under guidelines, and any related‑party links is warranted .