(Yicai Global) April 18 -- The main contender to replace Terry Gou, the Foxconn head who plans a bid to lead the Chinese province of Taiwan, may be an executive at the USD41 billion electronics company with the moniker Money Mama.

Huang Qiulian is the Taipei-based company's chief financial officer. Gou does not review any investment plan if her signature is not on it, and she assumes his duties in his absence, a Foxconn insider told Yicai Global. Huang is also the aunt of Gou's first wife, according to the Nikkei Asian Review. 

Speculation over Gou's replacement has mounted since the 67-year-old tech tycoon announced his entry into politics yesterday. In a surprise statement Gou said he would take part in primaries to lead Taiwan's opposition Kuomintang Party into next year's leadership election. At the start of this week, Gou said he planned to step back from day-to-day operations at the major assembler of Apple iPhones.

Foxconn employees believe the company may opt for a rotating chairmanship like Chinese consumer electronics manufacturer Huawei Technologies because Gou has such influence on the firm and his successor cannot be selected in the short term.

Officially known as Hon Hai Precision Industry, Foxconn said late yesterday that "the planning for the personal career of its chairman will be handled in accordance with regulations." It added that the firm's business divisions are run independently and professional managers take charge of their daily operations.

The news that Gou had thrown his hat into the ring fired up the stock price of many Foxconn-linked companies. Foxconn Industrial Internet [SHA:601138] jumped 9.5 percent to close at CNY19.44 (USD2.90) after gaining by the 10 percent daily limit yesterday. Hon Hai unit FIH Mobile [HKG:2038] rose 6.4 percent to HKD1.50 (19 US cents), takings its advance so far this week to more than 60 percent.

But Hon Hai itself [TPE:2317] ended the day little changed at TWD91.60 (USD2.97) after earlier gaining as much as 3.4 percent.

Editor: Zhang Yushuo