The world's largest manufacturer of build-to-order silicon chips, Taiwan Semiconductor Manufacturing Corporation (TSMC) announced yesterday that former HP chief executive Carly Fiorina will join its board as an independent director.

"This announcement should be a non-event," commented Primasia Securities of Taipei in a research release.

"Nevertheless, we believe that Fiorina can bring her leadership experience in a world-class company as well as a positive influence to TSMC."

Other independent directors at TSMC include Acer founder Stan Shih, BT chairman Sir Peter Bonfield, and Dr Lester Thurow of the Massachusetts Institute of Technology.