Sharp CEO Tai Jeng-Wu has stepped down as the Japanese brand under new owners Foxconn head in a new direction in the TV and appliance market.

Tai Jeng-Wu undertook a radical restructuring of the debt riddled and loss making Company after Foxconn acquired the business.

In Australia, the local consumer subsidiary which was struggling due to poor management was closed down with the sales of Sharp TV’s and appliances handed over to Sydney based Tempo who will this year launch several new products into the local market.

Going forward the global Sharp business will be run by 44-year-old executive managing officer Robert Wu Po-Hsuan, head of Sharp’s global brand products division, who will also serve as deputy chairman, according to an announcement Friday.

Tai, 70, will stay on as chairman.

The biggest issue facing the now Taiwanese owned Company is what to do with a liquid crystal display factory that contributed to the financial losses that led to Sharp’s 2016 acquisition by iPhone assembler Foxconn who are also known as Hon Hai Precision Industry.

Today the business is profitable, with the business tipped to report a $738 million profit next month.

The company has retired all of the preferred shares it had issued to raise cash during its earlier crisis.

Under Tai’s leadership the business has pivoted away from panels and other components in favour of branded products such as appliances and TV’s and will shortly re-enter the US market in a partnership with Roku.

“We laid a foundation on which to build our next 100 years of history,” Tai said of his nearly six years as CEO.

According to Nikki Asia the new Sharp chief will have to resolve the ownership issues associated with Japanese affiliate Sakai Display Products.

Sharp said Friday that it has entered talks to acquire the rest of Sakai Display’s outstanding shares to turn it into a wholly owned subsidiary.

Since Sharp brought the display maker’s factory online in 2009 it’s been unprofitable.

Sharp has vacillated in its approach to Sakai Display and at one point, had considered turning the display maker into a subsidiary, only to stop short of a buyout.

Sharp owns 20% of the Sakai Display.

It has entered talks about acquiring the rest with World Praise, a Samoa-registered investment vehicle that holds the remaining 80%.

In discussing the acquisition, Tai has stressed the importance of a reliable supply of panels for the TV business and cited the “risk in depending too heavily on China for core parts.” Foxconn-owned Sharp needs to navigate tensions trade and technology tensions involving China, Taiwan, and the U.S.

Supplying products for which demand is rising, such as laptop computer displays, will smooth out fluctuations in the more volatile market for larger panels, the thinking goes.