In a bid to make way for the new generation of manufacturers with fresher innovation, the founder of the world’s largest cycle maker King Liu has announced his retirement.

The head of the cycle maker Giant has decided to retire and allow newer heads to run the company. As from January 1 2017, the company will be run by young liu in his position as the new chief executive officer with Bonnie Tu acting as the new chairman. The 82-year old Tapei King Liu announced his retirement together with that of the organization’s long time chief executive – Tony Lo.

The company had made this announcement in a press conference that was held after a board meeting of directors. The announcement stated that the company’s chief financial officer and executive vice president, Tu will take on a new position as the chairman of the company while king’s only son young Liu who is currently the company’s chief operating officer will be taking on a new position as the chief executive officer starting from January 1 2017.

Tu who is king’s niece had made the announcement in Tapei at the press conference saying:

“Our company’s new leader ship will shift from the strong and centralized management over the past four decades to a more professional teamwork style.”

He explained that in the new management system, every member will be assigned an important role, he likened the future management of Giant to a team in the tour de France where every member is important.

“In a world that is full of uncertainties, it is better to do some new things, otherwise it’s likely that we will lag behind,” he added.

Young Liu has expressed his opinion about the management transition, he said the company had elected 14 executives in October as a means to initiate the transition, these new executives are to be in charge of functions like; manufacturing, legal affairs, sales and marketing. He added that he wishes to turn Giant into a customer service oriented organization with e-commerce platforms.