The Strategist

Foxconn's founder to step down

04/16/2019 - 03:58

Billionaire Terry Gou, founder of the world's largest electronics manufacturer Foxconn, intends to resign as chairman of the board of directors. The businessman followed Jack Ma’s thought about retirement.

The founder of Foxconn, the world's largest manufacturer of electronic devices, billionaire Terry Gou will retire from leadership positions in the company. This will happen in the coming months, Gou himself said at one of the events in Taipei, reports Reuters. He also clarifies that, despite his resignation, Gou would like to continue to participate in the management of the company and decision making.

At the same time, in response to a direct question from the agency about the plans, the businessman confirmed his departure only indirectly: “I don’t know where you got this information. But, I confess, I’m considering either taking a back seat, or retiring, said Gou to Reuters. “I will be involved in the main areas of the company's work, but not in the daily process.”

Gou noted that he wants to give way to young people: at 68, he would prefer to pass on his experience so that new specialists can replace him at the head of the company as soon as possible.

According to Reuters, Gou’s successor as chairman of the board of directors could be Lu Sung-Ching, President of one of the company's divisions, Foxconn Interconnect Technology.

Terry Gou is ranked 257th in the ranking of the richest people in the world in 2019 according to Forbes. The magazine, when compiling the rating, estimated his capital at $ 6.3 billion.

Gou is one of the largest shareholders of Foxconn, he owns 9.36% of the manufacturer’s shares.


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