Published in News

Foxconn CEO Terry Cheng steps down

Replaced by veteran exec Calvin Chih

Foxconn boss Terry Cheng announced he is stepping down on Wednesday. Cheng will be replaced in the interim by Foxconn veteran Calvin Chih, Bloomberg reports.

Cheng’s resignation came as a surprise and his reason for leaving is unclear, although some reports indicate that he stepped down due to ill health. Before joining Foxconn, Cheng headed Texas Instruments’ operations in Asia for ten years.

His successor has plenty of industry experience as well. Before joining Foxconn, Chih founded Chi Mei Communications Systems in 2011 and joined FIH in 2005, when it acquired his company. He headed the team that designed FIH’s first handset for Motorola.

More here.

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