ZTE changes CEO to comply with US deal

China’s ZTE names new leaders to comply with US deal

In April, ZTE was banned from importing phone parts from the USA for repeatedly misleading the Commerce Department's Bureau of Industry and Security.

US authorities are allowing China's ZTE Corp.to resume some business with American companies, temporarily easing a ban imposed over the telecom giant's export of sensitive technology to Iran and North Korea.

Chinese telecom equipment manufacturer ZTE Corp, has named a new CEO to comply with its deal with the U.S.to get a supplier ban lifted.

ZTE, which employs 70,000 people in China, had described the move by the United States regulators to cut it off from its USA parts suppliers as a "death sentence". It was forced to shut down operations and has been largely inactive since then.

ZTE previously pleaded guilty and agreed to pay a $1 billion penalty in March 2017 for having shipped equipment to Iran and North Korea in violation of US sanctions.


Board members unanimously voted in Xu Ziyang, who was most recently in charge of the firm's wireless-network products, to replace Zhao Xianming, according to a Hong Kong stock exchange filing. They are the latest additions of Team Disgrace and join three vice presidents and heads of legal, finance and supply chain departments.

It is not immediately clear whether the eight departures on July 2 were related to ZTE's compliance violation.

The new management appointments come after ZTE last week elected a new board led by 54-year-old Li Zixue as chairman to replace a 14-person board led by Yin Yimin. Because of the ban, ZTE had ceased all USA operations in May.

Some employees Reuters spoke to have expressed concerns about whether a new board and management could settle in smoothly to successfully revive the firm without the help of veterans.

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