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Foxconn founder breaks with company ahead of Taiwan presidential run

Foxconn founder, billionaire Terry Gou, has resigned from the board to prepare his candidacy for Taiwan's 2024 presidential election.

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Foxconn founder breaks with company ahead of Taiwan presidential run

Foxconn founder, billionaire Terry Gou, has resigned from the board to prepare his candidacy for Taiwan's 2024 presidential election. Terry Gou, 72, announced his resignation over the weekend to "personal reasons", and Foxconn later indicated that it had no intention of replacing him on the board. “The group is deeply grateful to its founder for his nearly half-century contribution to the group and to the global electronics industry,” Foxconn said in a statement.

Foxconn - also known by its official name of Hon Hai Precision Industry - is the world's largest contract electronics manufacturer and assembles devices for many companies, including Apple. Terry Gou has no longer exercised any executive power within the group since 2019, but retained a seat on the board of directors. On August 28, he announced his official candidacy, as an independent, for the presidential election of Taiwan in January 2024.

Analysts say his chances of success are slim against other opposition candidates who will face current Vice President Lai Ching-te, a member of outgoing President Tsai Ing-wen's Democratic Progressive Party, who is currently top of the polls.

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