ZTE appoints new management to comply with its US deal
Xu Ziyang, former head of ZTE’s business in Germany, is the company’s new CEO, according to an unnamed source cited by The Wall Street Journal. According to the report, the giant also appointed a new CTO as well as a new head of human resources, after a Reuters source claimed on Tuesday that seven senior executives were removed in total, according to an internal memo.
Appointing a new management is apparently part of a settlement between ZTE and the US authorities; the company committed to shaking up its management.
On Monday, July 2, a limited authorization was issued by the US authorities — in effect until August 1 — which allows ZTE to update the software on its smartphones, complete financial transfers with US companies, maintain its existing equipment and networks, and resume research on security vulnerabilities in its products.