Foxconn picks chip-unit head for chairman, as Gou seeks Taiwan presidency

Apple Inc supplier Foxconn chose chip-unit boss Liu Young-way as chairman on Friday to succeed Terry Gou, who is preparing to contest Taiwan's presidential elections next year. Liu was tipped to take over from Gou, who told Reuters in April that he planned to step down to pave the way for younger talent to move up the ranks of the world's biggest electronics contract manufacturer. Earlier on Friday, Gou told the company's annual general meeting (AGM) in Taipei he will hand over the running of the company to a newly formed nine-member operations committee.

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