Foxconn CEO stepping down?

Multiple reports are claiming Foxconn CEO Terry Gou will be stepping down from his position, with some suggesting he may pursue a run for president in Taiwan.

According to reports, Gou, 69, is apparently looking to move away from running the day-to-day operation, and says any decisions about running for president will be decided in “a day or two,” according to an Associated Press report.

Gou has been the face behind the massive Foxconn project in southeastern Wisconsin. The company promised in 2017 to build a $10 billion a “Gen 10” technology plant that would manufacture LCD panels for televisions and create 13,000 jobs. Plans have scaled down since then, to a Gen 6 plant, reportedly due to a “changing marketplace.” 

Meanwhile, Foxconn Technology Group announced that it has acquired a building, at 1 W. Main St. in Madison, which was previously owned by BMO Harris Bank. Foxconn will use the building as an innovation center, one of several it will operate in Wisconsin.

It is the company’s second link to Madison. Last August, Foxconn announced a $100 million matching grant to UW–Madison to fund an interdisciplinary research facility to serve its Wisconsin Valley Science and Technology Park just outside of Racine.

Construction work on the advanced manufacturing campus, located in Mount Pleasant, Wisconsin, has begun. The campus will include an LCD screen fabrication plant.