Foxconn Founder Steps Down from Board

Terry Gou, the founder of the well-known Apple supplier Foxconn, has left the company’s board as part of his decision to attempt to become the next president of Taiwan.

Foxconn announced Gou’s decision to step down on Saturday, and it appears that the decision was made largely to shield the company and Gou from any political fallout as threats of an invasion by China still loom overhead.

Gou entered an extremely crowded political race and as it stands currently, it appears that it is unlikely he will have much success in being elected. Regardless, With Foxconn having significant investment in China Gou stated that there could be some serious conflict of interest if he remained part of the company’s board while acting as the president of Taiwan.

Gou still remains a significant Foxconn shareholder with a 12.5% stake in the company and has yet to announce if he intends to sell these shares to avoid further conflict.

Source: Financial Times