Foxconn Says Gou Will Remain Chairman, to Withdraw From Daily Operations

Foxconn Says Gou Will Remain Chairman, to Withdraw From Daily Operations

Taiwan’s Foxconn, an assembler of Apple’s iPhones, Stated Terry Gou will remain chairman of the world’s largest contract Maker, though he plans to Draw from daily operations.

The comment came after Reuters reported that Gousaid he planned to resign in coming months to permit younger talent to move the tech firm’s ranks.

“His wish is to draw from daily operations following developed and mentored a new generation of talent to carry on Foxconn’s assignment.

Inspired by Reuters on Monday when he would stop as chairman, Gou explained, in 69 years old, he had been moving in that way, although any decision needed to be discussed together with Foxconn’s board.

“I don’t know where you got the data from. But I have to say, basically, I am working towards this direction – to return to the next point, or retire,” Gou said.

He also signalled a significant management reshuffle.

“At the board meeting in April-May we’ll give the new collection of board members to the board,” Guo said .

Foxconn, officially known as Hon Hai Precision Industry, is due to hold its annual general meeting in June.

Any direction reshuffle would mark another top-level change at a major tech company on both sides of the Taiwan Strait.

Morris Chang, founder of Apple supplier Taiwan Semiconductor Manufacturing (TSMC), retired as chairman this past year. In September, Jack Ma, co-founder of Chinese e-commerce giant Alibaba Group Holding Ltd, stated he would step down as chairman in a year to permit for younger direction.

Launched in 1974, the Foxconn group is the world’s largest contract manufacturer with T$5.2 trillion ($168.52 billion) in annual earnings. It assembles goods for a miscellany of international tech companies but is based on Apple for more than half of annual revenue, analysts said.