Terry Cheng Said to Resign from Foxconn 

Terry Cheng Said to Resign from Foxconn

SHENZHEN, Jul 04, 2012 (Menafn - SinoCast Daily Business Beat via COMTEX) --Terry Cheng, CEO of Foxconn International Holdings Limited (sehk:2038), has submitted his resignation.

However, Terry Gou, the board chairman of Hon Hai Precision Industry Co., Ltd, the parent company of Foxconn International, has not approve Terry Cheng's resignation and is persuading him to stay, according to Taiwan media on July 4. However, the spokesperson of Foxconn International has denied the news.

Terry Cheng joined in Foxconn Technology Group in 2007 and acted as vice president there; he was appointed as CEO of the company on January 1, 2012. Before joining in the company, he once acted as president and director in Taiwan and mainland China division of Hewlett-Packard (HP, NYSE: HPQ), and Asian president of Texas Instruments, Inc. (TI, NYSE: TXN).

After losing HKD 218 million in 2010, Foxconn International was able to turn losses into gains in 2011 and gained HKD 73 million in profit.

Source: www.sina.com.cn (July 04, 2012)

Copyright 2008 SinoCast Daily Business Beat. All rights reserved