Electronics Production | August 29, 2007
Quanta's merge talk with Foxconn continues, President resigns
Quanta have announced that Chairman and President Michael Wang have resigned from its position. New president for the company will be C.C. Leung.
In a statement by the company, Quanta indicated that Wang quit the company because of “personal career planning" issues. In an internal email that the former president sent to employees, the primary reason for his resignation is merger talks with Foxconn. Media speculates that the resignation took place ahead of the deal announcement by Foxconn and Quanta, Xbit labs reports. Quanta Computer was founded back in 1981 by Barry Lam and C.C. Leung. The two co-founders now intend either to sell off the whole company to Foxconn, or to sell part of the company. They also could form a strategic alliance with Foxconn. However Michael Wang believes that Quanta should stay independent. Wang has been working for Quanta for 19 years.