Hon Hai Precision Industry Co. Chairman Terry Gou

Taipei, May 6 (CNA) Terry Gou (郭台銘), Chairman of Taiwan's manufacturing giant Hon Hai Precision Industry Co., will step back from the frontline of the company's day-to-day operations after he announced his plans to join the presidential primary election of the opposition Kuomintang (KMT), a source in the company told CNA Monday.

Huang Chiu-lien (黃秋蓮), Hon Hai's chief financial officer, is expected to succeed Gou as the chairman of the company, the source who asked not to be identified said.

Huang, who tends to keep a low profile, is one of Gou's closest aides.

After Gou, one of the richest men in Taiwan, announced in mid-April his intention to change his career path, the market is watching Hon Hai's succession plan closely.

Financial Supervisory Commission chief Wellington Koo (顧立雄) said on April 24 the FSC will instruct the Taiwan Stock Exchange, where Hon Hai's shares are traded, to ask the company to disclose its succession plan, if it has one, as Gou is about to shift his course to politics from business.

(By Chung Jung-feng and Frances Huang)
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