Foxconn's Gou retains board seat on proposed board - source (updated)

Foxconn Interconnect Technology

10/05/2019 12:32

(Adds candidates)
    By Yimou Lee
    TAIPEI, May 10 (Reuters) - Terry Gou, chairman of Apple
supplier Foxconn  2317.TW , will retain a seat on the company's
proposed board, a source with knowledge of the matter told
Reuters on Friday, as he plans to run for Taiwan's presidential
election. 
    Gou announced last month that he would contest Taiwan's
presidential election in January, seeking to represent the
China-friendly opposition Kuomintang (KMT) party - a vote that
comes after a period of increasing tension between Beijing and
Taipei.
    Gou's election bid came after he told Reuters in April that
he planned to step down from Foxconn to pave the way for younger
talent to move up the company's ranks.  urn:newsml:reuters.com:*:nL3N21X1VE
    It is not immediately clear whether Gou will resign from his
role as chairman of the board.
    The proposed candidates for the new company board, which
include Lu Sung-Ching, the chairman of Foxconn Interconnect
Technology Ltd  6088.HK , and Sharp Corp's chairman  6753.T  Tai
Jeng-wu, is subject to approval from a shareholder meeting in
June, before a new chairman is elected. 
    Analysts said Gou's election bid might be weighed down by
his ties to a Chinese leadership that refuses to renounce the
use of force to unify with self-ruled Taiwan it considers a
wayward province.  urn:newsml:reuters.com:*:nL3N21Y2KC
    Shares of Foxconn fell 0.7% on Friday, lagging the benchmark
share price index's  .TWII  0.2% decline. They are up about 18%
this year after falling 30 percent last year.

 (Reporting by Yimou Lee in Taipei; editing by Louise Heavens)
 ((hongkong.newsroom@thomsonreuters.com; (852) 2843-6441;))