Who will succeed Terry Gou? Foxconn set up a think tank to mull it over

Who will succeed Terry Gou? Foxconn set up a think tank to mull it over

By Lily Kuo @lilkuo 5 hours ago

Foxconn is planning to replace many of its workers with a million robots over the next three years, but replacing chairman and CEO Terry Gou will require a bit more thought. So the world’s largest electronics manufacturer has taken the rather elaborate step of founding a think tank to find Gou’s successor, according to the Taiwanese newspaper Economic Daily News, as reported by Reuters.

Gou, 63, has said he plans to retire but hasn’t specified when. As the face of Hon Hai (Foxconn’s official name), he is consider key to the company’s success at wining clients like Apple and Hewlett-Packard. Observers worry that without him, the company will struggle to keep those orders. As one of the first to identify and harness China’s manufacturing potential in the 1990s, he’s been compared toHenry Ford.  But he has also been criticized for his company’s poor treatment of workers, cited as a cause of a spate of suicides at Foxconn factories in China.

The question of who can fill his shoes isn’t just a problem at Foxconn. At least 12 of Taiwan’s largest corporations are facing succession problems. Sophia Cheng, former head of of research for Merrill Lynch in Taiwan has said that a major part of her judgement of a company’s shares is how well the firm has prepared its second generation for the eventual leadership succession.

 

About bambooinnovator
Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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