Foxconn’s CEO resigns for unknown reasons

 Foxconns CEO resigns for unknown reasons

Foxconn’s CEO, Terry Cheng, has decided to call it quits and is awaiting approval of his resignation from the board chairman.

Foxconn’s CEO, Terry Cheng, has decided to call it quits and is awaiting approval of his resignation from the board chairman.

Terry Cheng, an engineering specialist, joined Hon Hai in 2007 after serving ten years as Texas Instruments' president of Asian operation.  Cheng took over for previous CEO Chen Wei-liang on January 1, 2012. 

It’s unclear why Cheng has decided to step down only after just a few months of captaining Foxconn.  Terry Gou, board chairman, is reportedly trying to persuade Cheng to keep his post. 

Foxconn incurred losses of around HKD 218 million (~$28.1 million) in 2010, and was able to regain some lost ground in 2011, netting about HKD 73 million (~$9.4 million).

Source: sina.com.cn via menafn.com

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