Sharp Corp. announced its chief executive Tai Jeng-wu will be replaced by executive managing officer. Wu Po-hsuan, effective on April 1, after Tai led the electronics company back from the verge of collapse.

Both Tai and Wu have been sent to Sharp by Taiwan's Hon Hai Precision Industry Co., which assembles Apple Inc.'s iPhones and is known by its trade name Foxconn. Tai, 70, will retain his post of chairman at Sharp, while Wu, 44, will also assume the role of vice chairman. Wu is currently in charge of Sharp's global branding and overseas business in the Americas, Asia and Oceania.