Foxconn CEO Terry Gou Plans to Step Back, Confirms iPhone Production Will Begin in India
Terry Gou, the chairman and CEO of Foxconn, plans to step back from day-to-day operations of the company in the coming months.
From the South China Morning Post:
"I'm already 69 years old. I hope to pass down my 45 years of experience to young people," said Gou on the sidelines of an event in Taipei on Monday. "That's the goal I set up – let young people learn sooner and take over my position sooner. Then I have more time to make long-term planning for the company."
While it appears that Gou will soon resign as Foxconn chairman, he hopes to remain involved in larger strategic decisions.
Gou, 69, founded Foxconn in Taiwan in 1974. The company has grown to become the world's largest electronics manufacturer, assembling well-known products ranging from iPhones and iPads to the Nintendo Switch and PlayStation 4.
Gou also confirmed that Foxconn will soon begin iPhone production in India, although he did not elaborate on the plans. Last week, a report claimed that Foxconn will begin production of the iPhone X in India this July. Foxconn rival Wistron already assembles older models like the iPhone SE and iPhone 7 in India.
Last week, Apple announced that Foxconn and over two dozen other companies in it supply chain have committed to using 100 percent renewable energy when manufacturing Apple products.
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Top Rated Comments
he and his team were able to really leverage 3 countries's human resources (both labour and management) and political structures.
few companies have ever reached this level of growth.
General Motors was another, in a different age.
we can hope that at least one or two of the new space related companies might be able to achieve this level of greatness.
Always wonder what Tim Apple's plans are.
People "step back" all the time. To the board, becoming chairman of the board, etc. Gets you out of the CEO role.
The irony is most rich and politically connected Taiwanese are green card holders or dual US citizens. It's a running joke every so often it's revealed some politician would get found out and forced to decide which one to keep. The guy probably has a vacation home by the lake...