Hon Hai Precision Industry (Foxconn) is expected to appoint the head of its chip business Liu Young to replace founder and chairman Terry Gou, sources told Reuters.
Liu, who is 63, joined the company in 2007 and is also on the board of Japan-based Sharp, which the Taiwan-headquartered company acquired in March 2016. He has led the chip unit, known as the S sub-group, since 2017.
Gou last month said he will step down to make way for younger leaders at the company. He separately announced he will run for president of Taiwan.
The 69-year-old executive plans to distance himself from day-to-day operations at the company, but remain involved in decisions related to the “major direction” of the business and to keep a seat on the board.
Given his age and “relatively junior rank”, the possible appointment of Liu was a surprise for many Foxconn executives, Reuters reported.
The company is the world’s largest electronics contract manufacturer and one of Apple’s biggest suppliers.