Foxconn has shifted to a rotating CEO system.

The heads of the electronics company’s six business groups will take it in turn to assume the CEO position. The new arrangement has been in place since the beginning of April, according to Digitimes Asia.

Foxconn now rotates CEO duti – Foxconn

Young Liu, Foxconn's chairman and president, confirmed the CEO rotation policy earlier this week, noting that it only applies to the parent company and not its subsidiaries.

Liu has held his current role since 2019, when he was promoted from head of the Foxconn semiconductor division.

He added that Foxconn has previously rotated executives in other roles and the system will allow the company leaders to understand the operations of different departments across the conglomerate.

It is not known how long each term will be, although it is likely they will run for six months at atime. The company also has not disclosed who the first CEO will be.

Other business group leaders at Foxconn include Michael Chiang, Chiang Chih Siung, Wu Jian He, Lin Chung Cheng, and Chen Wei Ming.

Foxconn manufactures smartphones, computers, PCs, TVs, game consoles, and chips.

Founded in 1974, the company has recently sought to expand its market share in the semiconductor industry, after witnessing a slow growth in smartphone sales.

The company also launched two Low Earth Orbit satellites at the end of last year.

Huawei also operates a rotating CEO system, which the Chinese tech giant adopted in 2011.