Gou said he wanted to step back from the front-line of running Foxconn to give younger people a chance while he could still be involved in strategic thinking at the company.
Foxconn's official name is Hon Hai Precision Industry Co. Ltd. and it is best known as the manufacturer of the Apple iPhone. The company, although headquartered in Taiwan, employs more than 1 million people in mainland China.
"I'm already 69 years old. I can pass down my 45 years of experience. That's the goal I set up - to let young people learn sooner and take over sooner and to replace my position sooner," Reuters quoted Gou as saying on the side lines of an event in Taipei. Gou added that his plans would be discussed with the Foxconn board of directors and communicated with shareholders at the AGM in June.
Meanwhile Bloomberg reports him saying he is considering running for President of Taiwan against the incumbent Tsai Ing-wen in the January 2020 elections. Gou said he would contest the Koumintang party's primary if he decides to run. Koumintang is currently in opposition in Taiwan.
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