TAIPEI (Reuters) – Terry Gou, chairman of Apple supplier Foxconn, will retain a seat on the company’s proposed board, a source told Reuters on Friday, as he plans to run for Taiwan’s presidential election.

Gou announced last month that he would contest Taiwan’s presidential election in January, seeking to represent the opposition Kuomintang (KMT) party – a vote that comes after a period of increasing tension between Beijing and Taipei.

Gou’s election bid came after he told Reuters in April that he planned to step down from Foxconn to pave the way for younger talent to move up the company’s ranks.

It is not immediately clear whether Gou will resign from his role as chairman of the board.

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