Foxconn Introduces Rotating CEO Role to Identify Talent

Foxconn, a major supplier to Apple, has introduced a new management system in which there will be no permanent CEO. The company aims to identify talent and prepare for succession planning.

Foxconn, a Taiwanese supplier of Apple products such as the iPhone and iPad, has introduced a new management system in which there will be no permanent CEO. This is part of a major overhaul of the company’s management practices.

According to Reuters, Young Liu, the current chairman of Foxconn’s board of directors, says that the Taiwanese company’s management is undergoing major changes, the biggest of which is the elimination of the position of permanent CEO and the adoption of a rotational system for this position.

Liu says that the new system, which is being implemented to better develop and sustain Foxconn, is intended to separate the responsibilities of the CEO and the chairman of the board.

Liu says that a person has already been selected for the interim CEO position. This individual is one of the main leaders of Foxconn’s six current businesses in the areas of smartphones, personal computers, and televisions.

The rotating CEOs will oversee Foxconn’s core businesses, but managing the activities of Foxconn’s main subsidiaries, including Foxconn Interconnect Technology, FIH Mobile, and Foxconn Industrial Internet, will not be among the responsibilities defined for the new CEO.

Yang Liu has been both chairman of the board and CEO since 2019, following the retirement of Foxconn founder Terry Gou. The new change in the management process of the Taiwanese company will likely make Liu the last permanent CEO of Foxconn.

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