Foxconn founder, billionaire Terry Gou, resigned from his board position to prepare to run for Taiwan’s 2024 presidential election. The 72-year-old 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 the global electronics industry,” Foxconn said in a statement.
Foxconn – also known by its official name Hon Hai Precision Industry – is the world’s largest contract electronics manufacturer and assembles devices for many companies, including Apple.
Low chances of success according to analysts
Terry Gou no longer exercises any executive power within the group since 2019, but retained a seat on the board of directors. He announced on August 28 his official candidacy, as an independent, for the presidency 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.