Foxconn says Gou will remain chairman, to withdraw from daily operations

Taiwan’s Foxconn, an assembler of Apple Inc’s iPhones, said Terry Gou will remain chairman of the world’s largest contract manufacturer, though he plans to withdraw from daily operations.

The comment came after Reuters reported that Gou said he planned to step down in coming months to allow younger talent to move up the tech firm’s ranks.

“His wish is to withdraw from daily operations after having developed and mentored a new generation of talent to carry on Foxconn’s mission. As chairman, Mr Gou will continue to provide strategic direction and guidance,” Foxconn said in a statement.