‘CEO Foxconn steps down’ – update

The CEO of Taiwanese electronics manufacturer Foxconn is said to have resigned for unknown reasons. Foxconn CEO Terry Cheng headed the organization for only a short time, starting just this year.

After about five years at Foxconn, or Hon Hai Precision Industry Co. Ltd., having served the last six months as chief executive officer, Terry Cheng has announced his departure, MenaFN.com reports. The reason why Cheng wants to leave is unknown. The chairman of the board, which has not yet approved the resignation, would like to persuade Cheng to stay on as CEO of the company.

A Foxconn spokesperson denies the rumor that the CEO would resign for the time being. Foxconn is the world’s largest manufacturer of consumer electronics components, producing laptops, smartphones, tablets and other hardware.

Update, Thursday 13.20: According to Dow Jones news agency, Foxconn has since announced that health reasons are the reason that the CEO is leaving at the end of July.