The chairman of Foxconn, the world's largest contract assembler of consumer electronics for companies such as Apple, is stepping down amid speculation he could be planning a presidential run in Taiwan next year. Foxconn board members elected Young Liu, the head of the Foxconn's semiconductor division, as Gou's successor. "Taiwan holds a very important position in this current U.S.-China trade dispute, in this global economy reform," Gou said. Gou recently has seemed to shift his focus toward a presidential bid, most likely for the opposition, China-friendly Nationalist Party. After waffling earlier this year on the company's intentions, Gou recommitted to the project in February after a meeting with President Donald Trump.

Source: ABC News June 21, 2019 11:48 UTC