DAIKIN

Foxconn Chairman To Withdraw From Daily Operations, Considers Presidential Run

Foxconn’s Chairman Terry Gou said on Tuesday he is considering contesting Taiwan’s 2020 presidential election and the company said he would withdraw from the daily operations of the world’s largest contract manufacturer.

Gou is Taiwan’s richest person with a net worth of $7.6 billion, according to Forbes.

– Taiwan is gearing up for presidential elections in January at a time of heightened tensions with China.

– Foxconn, formally known as Hon Hai Precision Industry Co Ltd, is due to hold its annual general meeting in June.

– Founded in 1974, the Foxconn group is the world’s biggest contract manufacturer, assembling goods for various global tech firms, but analysts say it relies on Apple for more than half its annual revenue.

Comments:

YAO CHIA-WEN, SENIOR ADVISER TO PRESIDENT TSAI ING-WEN:

“I don’t really think he’s going to run for the presidency. Politics is different from business and Taiwan’s politics are very complicated. I doubt if he’s really willing to tackle such complicated matters.”

“If he’s going to represent KMT, many leaders from the party would be upset.”―Reuters

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