iPhone Maker Hon Hai Names New Chairman to Replace Terry Gou
- Chips division chief Young Liu will take the helm on July 1
- Liu will be presiding over a precarious time for the company
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Hon Hai Precision Industry Co., the largest assembler of Apple Inc.’s iPhones, has named Young Liu its new chairman to replace billionaire founder Terry Gou.
Hon Hai said the semiconductor division chief’s appointment takes effect July 1, taking up a post vacated by Gou. The Taiwanese billionaire, who built the company from a maker of TV knobs into a global consumer electronics powerhouse, is stepping down to focus on winning a party nomination to compete in the 2020 Taiwanese presidential elections. Hon Hai’s shares slid more than 1%.