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Business

Will Sharp's new president drastically downsize the company?

TOKYO -- Sharp has a new boss. Tai Jeng-wu, second in command at Taiwanese contract manufacturer Hon Hai Precision Industry, has been installed as the troubled Japanese electronics maker's president.

Tai is vice chairman of Hon Hai, better known as Foxconn, which earlier this year agreed to acquire a majority stake in Sharp. He is also the company's first president to come from outside Sharp, whose history goes back more than a century.

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