Gou Plans to Take a Step Back

Perhaps this explains why we have been getting a few mixed messages from Foxconn lately.

TAIPEI (Reuters) – The chairman of Taiwan’s Foxconn, an assembler of Apple Inc’s iPhones, said on Monday he plans to step down in the coming months to pave the way for younger talent to move up the company’s ranks.

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Terry Gou, speaking on the sidelines of an event in Taipei, said that while he planned to resign as Foxconn chairman, he hoped to remain involved in strategic decisions regarding the company’s business.

When asked by Reuters if he would quit as chairman, Gou said he was moving in that direction, although any decision needed to be discussed with the company’s board.

“I don’t know where you got the information from. But I have to say, basically, I’m working toward that direction – to walk back to the second line, or retire,” Gou said.

“I will be involved in the major direction of the company, but not involved in daily operations.

“I’m already 69 years old. I can pass down my 45 years of experience. That’s the goal I set up – to let young people learn sooner and take over sooner and to replace my position sooner.”

Gou said his plans would be discussed with the board of Foxconn, formally known as Hon Hai Precision Industry Co Ltd, in the coming months and shareholders would be told at the AGM in June.