Daily Management Review

Foxconn’s Head of Chip Unit To Succeed Gou As Chairman


05/14/2019


Young Liu to occupy the chairman post in Foxconn, while the experienced Gou is likely to guide from the background, especially in strategic issues.



Source: commons.wikimedia.org; (CC BY 3.0)
Source: commons.wikimedia.org; (CC BY 3.0)
Foxconn is the “largest contract manufacturer” of the world which has prepared to give out the nominations to “succeed Terry Gou” as the company’s chairman, whereby it has selected the “head of its chip business”, Liu Young. The choice comes as a surprise while Gou has plans of running in the presidential election of Taiwan, revealed two sources who possess “direct knowledge of the matter”.
 
Liu Young belongs to the board of “Sharp Corp” which is a Japanese electronic arm of Foxconn. Reuters added:
“Liu’s possible appointment came as a surprise for many at Foxconn due to his relatively junior rank among the Taiwanese firm’s top executives, the people said on Monday.”
 
In April, Gou had informed Reuters about his plans of stepping down from the chairman’s post in Foxconn, which also happens to be a supplier for Apple Inc. He expressed this move would also enable “younger talent” to climb higher in the “Taiwanese firm’s ranks”. And now, the nomination has come up.
 
However, Gou will be retaining a place in Foxconn’s “proposed board”, which is formally known as Hon Hai Precision Industry Co Ltd. Further, he also told the reporters that “he would resign as chairman of the board to demonstrate his determination to run for election”.
 
On the other hand, Liu has been instrumental in leading the “nascent semiconductor business” of Foxconn, while he was also involved in dubbing the “S sub-group, since 2017”. Furthermore, Reuters also added:
“A company filing last week showed proposed candidates for Foxconn’s new board included Gou and Liu, as well as Sharp Chairman Tai Jeng-wu and Foxconn Interconnect Technology Ltd Chairman Lu Sung-Ching”.
 
In an email, replying to Reuters, Foxconn informed that the announcements will be made as per “the regulations of the Taiwan Stock Exchange” and wrote:
“The operations of individual business groups remain unchanged and they will continue to operate under the leadership of their respective management teams”.
 
References:
reuters.com







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