Foxconn Chairman Terry Gou announced in his final official appearance as chairman at the June 20 board meeting that he will resign from his position. A nine-person operations committee will take over.
“I have decided to fade out the view of Foxconn and leave the company to a nine-person operations team. Shareholders please be at ease, as they will for sure do a better job than me,” he announced in the opening.
He pointed out that Foxconn has been utilizing core manufacturing technologies over the past 40 years to advance towards the Industrial Internet. This long term endeavor has shown results with the help of big data, artificial intelligence and automation.
The new operations committee includes four candidates for company director, vice president, chairman for precise instruments and others.
Gou founded the Apple Inc. supplier, which began trading as Hon Hai Precision Industry Co Ltd 45 years ago. Over the years, the company has grown into a manufacturing giant, generating annual revenue of NT$5.3 trillion (1.2 trillion yuan) and has factories in 16 countries, according to Nikkei Asian Review.
Gou left the position to run in Taiwan’s leadership election. He announced his leadership bid in April.
Featured photo credit to Reuters. Terry Gou, founder and chairman of Foxconn reacts during an interview with Reuters in New Taipei City, Taiwan June 12, 2017.