Sharp president Tai Jeng-wu will remain in his role at the head of the company until March 2020, Nikkei has reported. Tai had previously said he would step down after the company re-entered the first section of the Tokyo Stock Exchange but has now agreed to stay on for a further two years.
Described as “irreplaceable” by senior executives, Tai has also created what he calls a “must-hit” sales target of ¥3.25 trillion ($29.7 billion). During his remaining time in post, Tai has said he will be working to find a successor to take over from him when he eventually steps down.
Sharp made sales of ¥2.42 trillion ($22.2 billion) in the last fiscal year — achieving its net profit forecast and putting the company accounts back into positive figures — but missed its revenue target by a reported ¥80 billion. Tai was responsible for forging significant partnerships with other industry players.
