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Foxconn CEO Terry Gou Plans to Step Back, Confirms iPhone Production Will Begin in India

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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.

Tag: Foxconn

Top Rated Comments

D
DVD9
91 months ago
When is that factory in Wisconsin going to open?
Score: 4 Votes (Like | Disagree)
T
Thunderbyte
91 months ago
Wise leadership!
Well, the folks in Wisconsin would probably beg to differ: https://www.theverge.com/2019/4/10/18296793/foxconn-wisconsin-location-factory-innovation-centers-technology-hub-no-news
Score: 3 Votes (Like | Disagree)
J
jpn
91 months ago
under Mr. Gou's leadership, Foxconn has been an amazingly successful company.
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.
Score: 3 Votes (Like | Disagree)
L
lunarworks
91 months ago
Say what you will about Foxconn, but this man turned it into a global juggernaut.
Score: 2 Votes (Like | Disagree)
M
msp3
91 months ago
Why do people praise Foxconn (or want them to build a factory in our country)? Say what you will about them, but Foxconn is fundamentally an outsourcer. i.e. Scummy people who do the dirty work of exploiting others, giving their employer the impression of a "clean operation", all the while extracting massive profits in the middle. Should we praise Deloitte, Accenture, PwC, and their ilk for sending American jobs overseas while making a killing? Does anyone remember when Disney outsourced all their IT workers to India and forced the ones getting laid off to train their own replacements? What's more, Foxconn is only nominally Taiwanese, all of their operations are in China. Who in their right mind wants a company like this to be their local employer?
in the USA, there is no stepping back. only stepping down.
People "step back" all the time. To the board, becoming chairman of the board, etc. Gets you out of the CEO role.
FoxConn CEO Terry Cou plans to retire to ... Wisconsin/s
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...
Score: 1 Votes (Like | Disagree)
J
jpn
91 months ago
This has been debunked by the Taiwanese media, Terry Gou is NOT stepping down.

Terry Gou also said he’s not retiring for at least another 5 years.

https://udn.com/news/story/7251/3756667
its odd.
although i read the same article you did, i didn't get the impression he was stepping down.
the key is what Mr. Gou himself is quoted as saying:

"Then I have more time to make long-term planning for the company."

that sentence is so important and is an example for all company presidents.
he isnt going anywhere.
hes staying at the helm.
he needs to get younger persons to take over.
he will still steer the ship.

there are so many things to learn from this great man.

"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. [B][I]Then I have more time to make long-term planning for the company."[/I][/B]
Score: 1 Votes (Like | Disagree)
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