Feeds

Foxconn to staff: ‘Put down the drill and launch a start-up!’

Chairman Gou hunts for a successor

Internet Security Threat Report 2014

Foxconn boss Terry Gou wants to let a hundred flowers blossom at the contract manufacturing giant, with new plans to support up to five spin-off companies every year in a bid to strengthen the firm by supporting entrepreneurship.

Chairman Gou, who has seen the company he founded 40 years ago grow into a multi-billion dollar business, is now looking for ways to take that growth to the next level, whilst also pondering the thorny issue of his succession.

His solution is to allow three to five subsidiaries each year become separate companies, which Foxconn will support with orders, according to Channel News Asia (here).

After three years, Foxconn orders will apparently drop below 50 per cent as the start-up is forced to cycle without its stabilisers.

The idea is to eventually create a loose association of diverse Foxconn-backed companies which can better compete with rivals across the globe, whilst also potentially grooming a successor.

"I want Hon Hai employees to have a chance to be bosses,” Gou apparently told reporters at a post Chinese New Year event on Friday.

The Taiwanese giant is also said to be launching a new project dubbed Dreams of Being Rich Come True, which aims to give business savvy youngsters help designing and developing moulds.

This philanthropic side to Foxconn and 64-year-old Gou is in stark contrast to the stories of staff suicides, periodic outbursts of rioting and allegations of labour rights abuses which often follow the controversial manufacturer. ®

Providing a secure and efficient Helpdesk

More from The Register

next story
Bono apologises for iTunes album dump
Megalomania, generosity and FEAR of irrelevance drove group to Apple deal
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
'Cowardly, venomous trolls' threatened with TWO-YEAR sentences for menacing posts
UK government: 'Taking a stand against a baying cyber-mob'
Arab States make play for greater government control of the internet
Nerds told to get lost in last-minute power grab bid at UN meeting
Zippy one-liners, broken promises: Doctor Who on the Orient Express
Series finally hits stride, but Clara's U-turn is baffling
Don't bother telling people if you lose their data, say Euro bods
You read that right – with the proviso that it's encrypted
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.