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Foxconn head says he s stepping back from daily operations

TAIPEI, Taiwan -- The head of Foxconn Technology Group says he is planning to step away from day-to-day operations at the world s largest electronics provider but will continue to guide the company s "major direction."

Terry Gou told reporters Monday at an event in Taipei that he wants to work on a book about his management philosophy honed over 45 years and prepare a younger generation to eventually take over operations at the company.

Foxconn counts Apple, Google and Amazon as customers and has said it will build a manufacturing facility in the U.S. state of Wisconsin.

"The major direction of the company will still be guided by me. But I will gradually step back from the front-line operations," the 69-year-old Gou said.

"I feel that I should tone down my personal influence ... let young people learn sooner in order to take my position as soon as possible so that I can have more free time to work on long-term planning for the company s future."

Foxconn announced in 2017, to much fanfare, that it planned to invest $10 billion in Wisconsin and hire 13,000 people to build an LCD factory that could make screens for televisions and a variety of other devices.

The company said last year that it was reducing the scale of what was to be made in Wisconsin, from what is known as a Gen 10 factory to Gen 6. Those plans now appear to be in flux, although the company says its Wisconsin campus will house both an advanced manufacturing facility and a centre of "technology innovation for the region."

Foxconn earlier this year cited a changing global market as requiring a move away from making LCD panels in Wisconsin. Apple is Foxconn s main manufacturing customer and it has forecast a drop in revenue from the Chinese market due to decreasing demand for iPhones.
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