Foxconn chief Gou to cede control of company

Foxconn chief Terry Gou announced plans to cede control of his Apple-supplier tech behemoth to a nine-member team on Friday, weeks after he announced a bid to become Taiwan's next president.[TAIPEI] Foxconn chief Terry Gou announced plans to cede control of his Apple-supplier tech behemoth to a nine-member team on Friday, weeks after he announced a bid to become Taiwan's next president.

"I have decided to fade out of Hon Hai and it's been decided that the company's operations will be handed over to the nine-member team in the operations committee," Mr Gou said at the start of a shareholder meeting, using Foxconn's official name. "I have a lot of confidence in them. I think every shareholder can rest assured that they can do better than me," he added.

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