Foxconn International Holdings Ltd. (FIH), a contracted manufacturer for Research In Motion (RIM), Nokia Oyj and Motorola Mobile Holdings Inc. products, has appointed Calvin Chih as its new CEO, pending Board approval.
Chih is replacing Terry Cheng, who signed a three-year contract to run the company in January, but has since chosen to step aside and retire.
Prior to joining FIH in 2005, Chih held positions at GTE Corp. and Rockwell Semiconductor Systems. According to FIH's annual report, he has 32 years of industry experience.
Unlike the Foxconn Technology Group that flourishes as a result of being Apple's primary manufacturer, FIH has been struggling - needless to say its affiliation with the fledgling RIM can't be helping the matter.
FIH's stock has dropped 47% so far this year and, according to Bloomberg, its annual revenue has slipped for four consecutive years. Its 2011 annual revenue was US$6.35 billion.
Hon Hai Precision Industry Co. is FIH's parent company.