Foxconn CEO Terry Gou has announced he will step down for his post as head of Apple’s largest device assembly partner.
“I’m already 69 years old. I can pass down my 45 years of experience,” Gou told Reuters. “That’s the goal I set up —to let young people learn sooner and take over sooner and to replace my position sooner.”
In addition to stepping down as CEO, Gou also told Reuters that he was also considering resigning as the iPhone assembly company’s chairman of the board. However, that would need board approval.
“I don’t know where you got the information from. But I have to say, basically, I’m working toward that direction – to walk back to the second line, or retire,” Gou said.
“I will be involved in the major direction of the company, but not involved in daily operations.”
Gou said he would be discussing the matter with the board in the next few months, and will formally tell the shareholders at the general Foxconn meeting in June. The head of the electronic and opto-electronics connector unit of Foxconn, Lu Sung-Ching is thought of as a likely replacement.