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Tai To Step Down From Sharp

Tai To Step Down From Sharp

Sharp CEO Tai Jeng-wu will step down once the Japanese electronics maker turns profitable again at the net level. Tai, who is also vice chairman of Foxconn, became president of Sharp in August after the Taiwanese company took control of the struggling company.

Tai also specified that Sharp’s shares have to return to the Tokyo Stock Exchange before he steps down. Sharp has estimated that will happen in 2018.

Before Foxconn, formerly Hon Hai Precision, took over Sharp, it was facing falling sales of smartphone panels and restructuring costs. Sharp has since returned to positive net assets after capital infusion by Foxconn.

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