Terry Gou quits as Foxconn boss to pursue political ambitions

Foxconn founder and CEO Terry Gou announced at the electronics manufacturing giant's annual general meeting that he will step down. After running the company for 45 years, Gou has set his aim on running for president of Taiwan. Gou will remain Foxconn's largest shareholder and will remain on the company's board.

He will run for the nomination of the Kuomintang, Taiwan's opposition party. Gou will be replaced by Young Liu, the head of the Foxconn semiconductor unit.

Foxconn (one of Apple’s biggest suppliers) is China’s largest private employer and the Kuomintang supports a closer relationship with the Chinese government, despite its stance that Taiwan is a rogue province. Gou’s ties to the country will be scrutinized during the campaign as he opposes Tsai and the DPP, advocates of Taiwan’s sovereignty. The issue is especially fraught after the recent large-scale demonstrations in Hong Kong against a bill that would have allowed extradition to China.

Via: TechCrunch