Foxconn considering rotating CEOs as part of major management reshuffle, sources say [Globe and Mail, The (Toronto, Canada)]
HON HAI PRECSON S/GDR NEW (HNHPF)
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Source: Globe and Mail, The
Young Liu has held both roles since 2019 in the 50-year-old Taiwanese company that is the world's largest contract electronics manufacturer and a major iPhone assembler. Senior Foxconn managers, whose clients also include Amazon, have discussed the rotating CEO plan for several months, the three sources with direct knowledge of the matter said. They all requested anonymity due to its sensitivity. Foxconn declined to comment. Two of the three sources said one option being considered is to have four CEOs on a rotating basis of six months at a time. They said details had not been finalized and were subject to change. All three sources said no final decision had been taken as the Foxconn management was deliberating on how the proposed system would work, possible candidates for rotating CEO roles, their responsibilities and how they would work with Liu. One of the sources said the rotating CEOs would be expected to oversee Foxconn's six core businesses, which include smartphones
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