Utilize the input text as a context reference, choose the right relationship between TSMC and Morris Chang from the options. Options: product/material produced, manufacturer, distributed by, industry, position held, original broadcaster, owned by, founded by, distribution format, headquarters location, stock exchange, currency, parent organization, chief executive officer, director/manager, owner of, operator, member of, employer, chairperson, platform, subsidiary, legal form, publisher, developer, brand, business division, location of formation, creator.

"The outlook for this year has continued to deteriorate," TSMC Chairman Morris Chang said during the company's quarterly investor conference on Thursday.

Answer: director_/_manager