ZTE’s board is expected to replace three of the company’s top executives in the wake of an investigation that led the U.S. Department of Commerce to levy trade restrictions against the Chinese smartphone maker.
According to a report from the Wall Street Journal, ZTE Chief Executive Shi Lirong and executive vice presidents Tian Wenguo and Qiu Weizhao will resign their posts pending approval from the board.
ZTE’s Chief Technology Officer Zhao Xianming will reportedly step into the role of CEO and chairman, the report said.
The Wall Street Journal said the changes are expected to be discussed and approved on Tuesday and Wednesday of this week. The board is also expected to approve the company’s 2015 financial results this week following a delay in the wake of the sanctions.
Source: http://www.wirelessweek.com/news/2016/04/zte-leadership-shakeup-expected-wake-us-trade-restrictions
