Following rumors indicating that Foxconn is considering adopting a rotational CEO system, Young Liu, chairman of Foxconn, when attending the Autotromics Taipei on April 17, disclosed that an internal plan for the system has been initiated since April without elaborating on the details regarding rotation timing and candidates.
Liu revealed that the rotational CEO system started as an internal staff training initiative before it became public. He noted that the group already uses similar practices in various roles. They are now expanding this rotation system to include CEOs.
Liu explained that the rotational system allows CEOs to understand various business groups better. A CEO's role differs from that of a business group leader, with CEOs having broader responsibilities and considerations. By rotating CEOs, they can get to know the operations of different business groups across the conglomerate.
Liu stressed that the rotational CEO system is only in place at Foxconn Group's parent company. Subsidiaries like FIH, FII, and FIT aren't part of it. They aim to set up this rotation system at the parent company before considering expanding it to other group subsidiaries.
Liu didn't offer many specifics about the current rotation plan. He pointed out that a three-month term is too brief for a CEO, while a year is too long. It's believed that CEOs might rotate every six months.
As for the candidates for rotation, Liu Yangwei didn't provide much detail. However, considering the nature of the work of business group supervisors mentioned, it's generally believed that several current business group leaders may participate in the rotation. Thus, leaders of various Foxconn business groups like Michael Chiang, Chiang Chih Siung, Wu Jian He, Lin Chung Cheng, Chen Wei Ming, etc, are likely to be rotating CEOs.
