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Foxconn has a leadership overhaul


Apple supplier Foxconn announced a leadership overhaul that will see more executives involved in the running of its daily operations. The reason is that the company’s Chairman Terry Gou seeks to run in Taiwan’s 2020 presidential election.

The new operations committee will give nine senior executives from the group’s subsidiaries greater control

Stocks impacted: Foxconn Technology Co Ltd (2354)

In April, Gou hinted that he planned to step down from Foxconn. Since then, Foxconn shares have lost about 20%. The company also told investors it was well positioned to tackle headwind from ongoing the U.S.-China trade war, citing its production bases in 16 countries. On Tuesday, the stocks closed up 0.32%.

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