Terry Gou, the hard-charging founder of Foxconn, the world’s largest electronics manufacturer, does not often bow in apology to shareholders.
Yet he did so at this week’s annual meeting of the company that, by his count, assembles or makes parts for seven of the top 10 best-selling electronic gadgets in the US.
His apology, to both elderly retail investors who faithfully attend Foxconn’s day-long general meeting each year and institutional investors such as BlackRock and Singapore’s GIC, was for a nearly 20 per cent share price fall over the past six months.
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