At the company's investor conference on June 22, Foxconn Electronics (Hon Hai Precision Industry) chairman Terry Guo said that several of Foxconn's vice presidents will join Sharp's board of directors to help Sharp transform over three stages of planning.
Foxconn will first help Sharp transform its patents into technologies for creating products. The company will push to shorten the time to commercialize the technologies, increase transformation efficiency and reduce production costs.
Foxconn will then focus on organizing and adjusting Sharp's high-cost joint ventures and investments outside Japan to reduce operating costs and such a move is expected to have some impacts on its product ASP.
The third is that Foxconn will start implementing evaluation on employees' work progress. Sharp used to measure performance on a team basis in the past, but Foxconn is planning to also evaluate the performance of individual employees.
Article translated by Joseph Tsai
