Sharp Pres. Tai May Stay On until FY 2019

May 12, 2018

Tokyo- Sharp Corp. President Tai Jeng-wu, in a message to the firm's employees on Friday, indicated his intention to remain in the post until fiscal 2019.

In the message, Tai said he feels a strong responsibility to attain targets included in the Japanese electronics maker's medium-term business program that ends in fiscal 2019.

Tai had refrained from making clear his idea about Sharp's management structure for fiscal 2018 and later, including his own fate.

Also on Friday, Sharp made a provisional decision for Tai to double as its chairman from June 20.

The move suggests that there is the possibility of Tai, who has signaled his intention to pull out of Sharp's management in fiscal 2019, remaining involved in running the firm as chairman in and after the year, observers said.

In the message to employees, Tai said he will work to foster and pick a new president, who would lead Sharp after the completion of the medium-term business program, and to form a management team capable of stably running the company in the long term.

Sharp became a subsidiary of major Taiwanese contract electronics manufacturer Hon Hai Precision Industry Co. in August 2016. Tai, who is from Hon Hai, also known as Foxconn Technology Group, assumed the post of Sharp president in the same month.

In January this year, Sharp introduced a co-chief executive officer system to share the power that had concentrated on Tai. The company now has four co-CEOs, including Tai, with each of them responsible for a specific business field or region. Jiji Press