Gou Taiming officially abdicates: stepping down as chairman of Hon Hai, Liu Yangwei, head of chip, takes over. Titanium Express


Source: visual China

Source: visual China

Titanium Media News | June 21st news: At today's Hon Hai Group (Foxconn parent company) shareholders meeting, the last time as the chairman of the board, Guo Taiming announced that he will officially abdicate after the board of directors, concentrate on the 2020 general election KMT primaries The company’s nine-person team was handed over to the management committee. “I am very confident about them. I think shareholders can be assured that they will do better than me.”

Gou said he is confident that the team will succeed. Hon Hai will invest 10 billion yuan (NT $) in the next five years to set up industrial Internet artificial intelligence application laboratories and robotics research institutes around the world to make every effort to develop artificial intelligence and industrial Internet applications.

Foxconn Group (Foxconn Technology Group) was founded by Gou in 1974 and later developed into a multinational electronics manufacturing group under his leadership. Foxconn (Foxconn) is its trademark name, and Shenzhen Foxconn Group is a company invested in the mainland by Hon Hai Precision Group.

Hon Hai Group specializes in the professional foundry, design and manufacture of electronic products, research and development of precision electronic components, chassis, barebones, system assembly, optical communication components, liquid crystal displays and application products and other electronic products.

After Gou stepped down, Hon Hai's share price fell 0.77 percent to T $77.1, or 0.77 percent, from T $78.2 to T $77.1 by the time of the titanium media release.

However, shares of FTU, a Foxconn A-share listed company, rose all the way from 11.9 yuan to 12.40 yuan by the end of the release.

Foxconn of Apple's foundry is actually a huge industrial cluster. Hong Kong Precision (2317.TW) is in the stock market in Taiwan. Fuzhikang Group (2038.HK), Hongteng (6088.HK) and Yunzhi are in the Hong Kong stock market. Hui Technology (1037.HK), Xunzhihai (8051.HK), Industrial Wealth in the A-share market.

Source: snowball

Source: snowball

Just after the shareholders meeting, Hon Hai announced that Liu Yangwei succeeded Guo Taiming as the new chairman of Hon Hai and Li Jie as the vice chairman. Liu Yangwei previously served as general manager of the Hon Hai Semiconductor Sub-Group and head of the chip business. Li Jie is the vice chairman of Industrial Fulian, a listed company of Hon Hai's A-share company.

In fact, as early as April 15, there were reports that Hon Hai Group Chairman Gou Taiming would resign as chairman in the coming months. Later, Foxconn Group said the news is not true, Gou Taiming just want to retreat to the second line.

On the evening of May 10, Hon Hai announced the list of candidates for new directors, namely Guo Taiming, Lu Fangming, Liu Yangwei, Li Jie, Lu Songqing and Dai Zhengwu, and three independent directors – Wang Guocheng, chairman of Qianli Yingfang, and Taiwanese scholar Guo Dawei. And the famous venture capitalist Gong Guoquan.

Although Liu Yangwei has a slightly lower qualification in Hon Hai than other candidates, Liu Yangwei received a master's degree in electrical engineering and computer science from the University of Southern California. He has accumulated a lot in the semiconductor field. He founded Integrated Telecom Express Inc., Young Micro and other companies in the early years. He also stayed at UMC, the founder of Lianyang, the IC design company of UMC, and he was a member of Hon Hai. Electronics (renamed Hong Zhun after the merger of Huasheng and Hongzhun) worked with Guo Taiming.

In addition, Liu Yangwei also served as general manager of the IC design company Pu Cheng and deputy director, special assistant to Guo Taiming, etc., has been in the Hon Hai Group for more than 10 years, often cited by Guo Taiming as an example of management learning. The semiconductor sub-group is a sub-group established by Hon Hai in the past two years. In the past year, Hon Hai has invested hundreds of millions of yuan to invest in the construction of chip factories in Zhuhai and Jinan, which was also promoted by Liu Yangwei. It can be seen that the semiconductor business will become the main direction of Hon Hai's future.

For now, however, Hon Hai's management model has also changed since Mr Gou stepped down as chairman. At present, similar to the management mechanism of Tepco, Taiwan Plastics Group, Huawei and other groups, Gou Taiming chose to hand over the company to the team operation.

On June 11, Hon Hai announced at the law conference that a nine-member operating committee would be set up under the board of directors, which is now also approved by the shareholders' meeting.

The nine-person team of Hon Hai Management Committee, including Hon Hai's Vice President and Chairman of Asia Pacific Telecom, Lu Fangming, Hon Hai S Group General Manager and Jingding Chairman Liu Yangwei, Hong Teng Precision Chairman Lu Songqing, and Industrial Fulian Vice Chairman Li Jie Vice President of Hon Hai Group and Chief Financial Officer of the Group Huang Qiulian, Chief Financial Officer Huang Decai, Sharp Director Candidate Lin Zhongzheng, Hon Hai B Group Leader Jiang Zhixiong, Foxconn Executive General Manager Lin Zhenghui.

Guo Taiming has been working in the Hon Hai Group for 45 years. He founded the Hon Hai Precision Group in Taipei in 1974. In 2001, Hon Hai became the leader of private enterprises. In 2005, Foxconn International successfully listed in Hong Kong, and Guo Taiming became the richest man in Taiwan that year.

The news that Guo Taiming wants to retire has been heard before. As early as 2001, Guo Taiming stated that he would retire after seven years, and clearly selected the candidate to be his 10-year-old third brother Guo Taicheng. It is understood that Guo Taicheng is low-key and humble, and in sharp contrast with the tempering Guo Taiming, won the support of the group.

However, Guo Taicheng died of blood cancer in 2007. According to sources, Gou has put forward three major requirements for successors according to the advantages of Guo Taicheng: under the age of 50; the ability to operate a large company with an annual income of 300 billion yuan, with an annual growth rate of 30 percent; and international operational experience.

2008 coincided with the economic crisis, and Gou finally had to "retreat." in 2009, he officially returned to Hon Hai and worked until now. (titanium Media Editing Synthesis)

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