Taiwanese Electronics Company Foxconn Appoints New Boss After A Chaotic Year in China

Taiwanese electronics company which was once Apple’s key manufacturing partner Foxconn, has appointed a new boss for its company after a chaotic year in China.

The new boss Michael Chiang replaces the company’s longtime leader Wang Charng-Yang as the head of the iPhone assembly.

Reports disclose that the new boss Chaing who has a master’s degree in human resources development from California’s ceremony graduate university, joined Foxconn in 1999 and has so far helped the company in meeting the high standard Apple requires.

Also, he was reported to play a pivotal role in communicating with the local government and making sure Apple’s demands were satisfied when the company encountered unprecedented workers unrest in its main iPhone campus in the central Chinese city of Zhengzhou in 2022.

Investors King understands that the change of leadership at Foxconn was necessitated to enable the company to increase its supply chain amid growing competition from Chinese contenders, also to elevate younger executives to maintain the company’s supply chain leadership.

Also, the appointment of Chiang highlights the company’s effort to help navigate tensions between Washington and Beijing, diversify its manufacturing bases outside of China, and fend off Chinese challengers including Luxshare Precision Industry Co.

Foxconn is set to face new rivals as Apple seeks to diversify its production footprint following pandemic-related supply that wrought havoc on device output in China.

Recall that following Foxconn’s halt in production lines in Zhengzhou China due to stringent covid rules, it interrupted iPhone production in the country, falling short of expectations.

The company posted a slower revenue growth in Q4 2022 which prompted Apple to sign a contract with Foxconn’s rival company Luxshare to make up for the loss of production at Foxconn’s factory.

Luxshare which has been previously producing a small quantity of the iPhone 14 pro max model, has now taken over the major market share for the production of iPhone in China.