OSAKA -- Hon Hai Precision Industry is selecting executives to install on Sharp's board in light of the impending acquisition, with the Taiwanese company's leadership and joint venture Sakai Display Products offering potential candidates.
Hon Hai, also known as Foxconn, can name nine of 13 board members or more than two-thirds of directors depending on the board's size, Sharp said. Hon Hai Chairman Terry Gou appears poised to send Foxconn's No. 2 to the board: Tai Jeng-wu, a director and fluent Japanese speaker.
Sakai Display Chairman Katsuaki Nomura and President Taimi Oketani, formerly of Sharp, reportedly are rated highly by Gou. They could join Sharp's board along with Toshiaki Takayama, a Sakai executive vice president who hails from Foxconn.
Some Sharp executives say President Kozo Takahashi's tenure should end after the Foxconn deal is complete, since the company will have a clear path forward. Official approval of the acquisition is expected at a shareholders meeting as soon as June. Takahashi apparently feels responsible for restructuring measures such as domestic job cuts that Sharp's dire straits forced him to take. The question of whether he will step down is drawing much attention.