Reports appeared on Chinese media that the decision for CEO Simon Yang to step down and assume his new role as executive vice chairman was the result of a 28 September board meeting, although Digitimes claims it was for personal reasons.

Yang will be replaced by Chen Nanxiang, a former general manager at China Resources Microelectronics. No reason has been given for the change. 

During his reign he apparently "lead the company to success in the field of 3D NAND flash memory, from 32-layer technology to the successful research and development of 64-layer chips, proposed the world's unique Xtacking technology, and then reached the world's advanced level of 128-layer flash memory chips.

One local media outfit claimed that Yang as the core of the team, was indispensable.

The dark satanic rumour mill suggests that the move might have something to do with China's "Big Fund" which founded YMTC in July 2016, the year Yang became CEO. It provides  financing to Chinese semiconductor design and manufacturing capabilities to improve China's competitiveness measured against the capability and output of the US, South Korea, and Taiwan.

But there has been Big Trouble for the Big fund. Over the past two months, China's anti-corruption enforcers have investigated at least seven execs or former execs associated with management company. The man who oversaw big investments to YMTC, Ren Kai, was placed under investigation last month.