Sharp has named the vice-chairman of Taiwan’s Foxconn as its new president to steer its turnround after the embattled Apple supplier posted an annual loss of $2.4bn.
Tai Jeng-Wu, a close aide of Foxconn’s founder Terry Gou, will become the first outsider to run the century-old Japanese group that is being taken over by Foxconn.
“He is very powerful and is the number two ranked at Hon Hai. He also speaks Japanese. So he was chosen from a comprehensive viewpoint,” Kozo Takahashi, Sharp’s outgoing president and chief executive, said of Mr Tai on Thursday.
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