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© Wisconsin Governor Scott Walker via Instagram Electronics Production | April 16, 2019

Gou ponders major shift in role at Foxconn

Citing the desire to make room for younger talent to ascend the company’s ranks, Foxconn CEO Terry Gou said he is considering taking a backseat in the coming months and possibly retiring, according to a Reuters report.

When asked if he was quitting as CEO at an event in Taipei, Gou explained that while he was moving in the direction of retiring, he hoped to remain involved in strategic decisions and the major direction of the company, but “walk back to the second line” with regard to daily operations. Gou also stressed that any plans would be shared with the board of Foxconn in the coming months, and shareholders would be told at the AGM in June. As Apple tries to diversify its supplier base, and smartphone sales plateau, it is a “delicate time” for major leadership changes at Foxconn, according to the Reuters story. Foxconn, which has a market value of USD 40 billion, saw shares rise after the news and closed 3.2% higher on Monday. The exit of Gou would mark yet another top-leadership change at a Chinese tech firm. In September, Alibaba Group Co-Founder Jack Ma said that he would be stepping down in one year, citing similar reasons as Gouꟷto facilitate the rise of the next generation of leaders at the massive Chinese e-commerce firm. In 2018, Morris Chang, founder and chairman of Taiwan Semiconductor Manufacturing Co (TSMC), another Apple supplier, retired.
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May 14 2019 8:21 pm V13.3.8-2