In a legal move that has captured significant attention, former Sharp CEO Tai Jeng-wu has initiated a lawsuit against Foxconn and its founder, Terry Gou. Filed last month in the New Taipei District Court, the civil case centers on allegations that Tai was inadequately compensated for his performance during his tenure as CEO of Sharp, which lasted from 2016 until his retirement in 2022. The lawsuit has been confirmed by four individuals familiar with the situation.
Tai Jeng-wu's association with Foxconn spans nearly four decades, marking a long-standing career with the company that is known for its key supplier roles to tech giants like Apple and Nvidia. His retirement in 2022 concluded a significant chapter as he had led Sharp for six years prior to stepping down. However, the unresolved issue of his compensation package during this period has prompted the current legal proceedings.
The lawsuit targets both Terry Gou, the founder of Foxconn, and the company itself. Details of the dispute remain centered around the alleged undercompensation for Tai's contributions as CEO of Sharp. The case is still ongoing, with proceedings taking place in the New Taipei District Court.
Foxconn, renowned for its pivotal role in the technology supply chain, now finds itself embroiled in this high-profile legal confrontation. As the case unfolds, it sheds light on internal corporate dynamics and issues surrounding executive compensation.
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