From Investing.com: 2024-04-10 22:05:32

Foxconn is considering implementing a rotating chief executive system to develop future talent, separating the CEO and chairman roles. Discussions have been ongoing amongst senior managers for months, with the option of having four CEOs on a six-month rotation. The move could signal an end to “one-man rule” at the Taiwanese company.

Shares of Foxconn, also known as Hon Hai Precision Industry Co Ltd, dropped over 2% after the news, despite a 45% increase this year. The company expects a revenue surge driven by artificial intelligence server demand, compared to a 16% rise in the main index. Waits on final decision on the CEO rotation system.



Read more at Investing.com: Exclusive-Foxconn considers rotating CEOs in management reshuffle By Reuters