ZTE taps in-house executive as new CEO

发布时间：2018-07-06 00:00
作者：Ameya360
来源：ETTelecom
阅读量：1140

After being hit by American sanctions, Chinese multinational telecommunications equipment and systems giant ZTE has roped in Xu Ziyang, an in-house executive with experience in product research and operations, to serve as its new CEO.

ZTE taps in-house executive as new CEO

Xu, president of ZTE's Telecom Cloud and Core Network product line, has been selected as the new CEO, South China Morning Post reported on Thursday.

Li Ying, the current vice president of the finance department, would take over the role of CFO while Gu Junying, a newly-elected executive director on the new board, would lead the company's human resources department.

The US said it would let the Chinese tech giant to temporarily re-start some of its business operations as it considers lifting a seven-year ban imposed on the firm. 

The US had imposed sanctions on ZTE for illegal sales to Iran and North Korea but the Chinese company agreed to take corrective action. 

When regulators in the US found ZTE to be violating the terms of the agreement, they cut off the firm from its US parts suppliers. 

ZTE, which employs 70,000 people in China, had described the move by the US regulators to cut it off from its US parts suppliers as a "death sentence".

（备注：文章来源于网络，信息仅供参考，不代表本网站观点，如有侵权请联系删除！）

上一篇：Altice, Huawei tie-up aims to make Portugal a European leader in 5G

下一篇：UMC Won the Preliminary Injunction against Micron in China; Global Memory Market Is Very Likely to See Reshuffle

在线留言询价

相关阅读
China's ZTE loses major German mobile contract
Trade news

China's ZTE loses major German mobile contract

Chinese telecoms giant ZTE lost its biggest contract in Germany, network provider Telefonica on Friday said, as resistance mounts across the West to Beijing's infrastructure manufacturers. ZTE's contract to maintain mobile operator O2's network, which is owned by Spain's Telefonica, "will come to an end as planned at the end of the year," said a spokesman for the German firm, confirming a report from business daily Handelsblatt. In an interview with the newspaper, Telefonica Deutschland chief executive Markus Haas held back from criticising ZTE over quality problems that have plagued O2's integration of its network with competitor E-Plus over the past four years. In future it will work with a much smaller German firm, Dortmund-based GfTD, rather than ZTE, he said. Maintenance of masts and other infrastructure that makes mobile networks run is a "local service", Haas explained. Also according to Handelsblatt, ZTE is looking to score a new big German contract with network provider United Internet as the country gears up to auction licences for upcoming 5G mobile internet frequencies. The next-generation technology is expected to form the backbone of future applications like automated driving that could reshape the economy in the coming decades. ZTE declined to comment on the report when contacted by AFP. The Chinese firm's woes in Germany follow British telecoms group BT's announcement this month that it would move away from equipment provided by rival Huawei in its mobile network. Huawei has been singled out by Western leaders for its alleged links to Chinese intelligence services. The US government officially asked telecoms operators not to buy the firm's products early this year. (AFP) KUN KUN
2018-12-17 00:00 阅读量：1081
China's ZTE sees heavy losses in H1 due to U.S. penalty
Trade news

China's ZTE sees heavy losses in H1 due to U.S. penalty

Chinese telecoms equipment group ZTE Corp said on Friday it expected to record a net loss in the first half of the year due to the hefty fine it agreed in order to lift a U.S. ban on component supplies. It estimated a preliminary net loss of 7.0-9.0 billion yuan ($1.05-1.34 billion) in January to June period versus a profit of 2.3 billion yuan the previous year, it said in a filing to the Hong Kong stock exchange.ZTE, which makes smartphones and networking gear, signed an agreement with the United States on Thursday that paved the way for it to resume operations after a nearly three-month ban on doing business with American suppliers.The settlement ZTE reached with the U.S. Commerce Department included a $1 billion penalty and a deposit of $400 million in an escrow account."The substantial decrease in results was mainly due to operating losses and provision for losses resulting from the suspension of the major operating activities," ZTE said in the exchange filing.The ban was imposed in April after Commerce Department officials said ZTE made false statements about disciplining 35 employees after it pleaded guilty last year to violating U.S. sanctions by illegally shipping U.S. goods and technology to Iran, the Commerce Department said.
2018-07-16 00:00 阅读量：1299
ZTE shares surge 22% as US sanctions lift moves step closer
Trade news

ZTE shares surge 22% as US sanctions lift moves step closer

Shares in Chinese telecoms equipment maker ZTE surged more than 20 percent in Hong Kong on Thursday after the company moved a step closer to having a painful US purchase ban lifted.The firm had been forced to halt operations and was on the verge of collapse after Washington announced a seven-year ban on US companies selling it crucial parts owing to its handling of a sanctions violation.However, as a favour to Chinese President Xi Jinping, US President Donald Trump ordered the Commerce Department to ease the penalties and replace it with an order to pay a $1 billion fine and put $400 million in an escrow account to cover any future penalties for violations.It was also ordered to replace its board of directors and retain outside monitors.On Wednesday ZTE signed an escrow agreement, meaning the sanctions could be lifted as soon as Thursday.The news sent shares in the firm soaring 22.08 percent in Hong Kong to HK$13.60 by the break. Still, it is sharply down from the HK$25.60 it was at before trading was suspended after the sanctions were announced in April.ZTE was pushed to the brink by the initial penalty, which came after US officials said it had failed to take action against staff who were responsible for violating trade sanctions against Iran and North Korea. It was fined $1.2 billion last year for those violations.Trump's decision to step in was seen as an olive branch by the president as trade war tensions started to mount, making it a key element in the spat between Washington and Beijing.However, despite the agreement US lawmakers are working to reinstate the ban, accusing Trump rewarding a company that has repeatedly broken US law and engaged in espionage.
2018-07-13 00:00 阅读量：1143
US allows ZTE to resume some business
Trade news

US allows ZTE to resume some business

U.S. authorities are allowing China's ZTE Corp. to resume some business with American companies, temporarily easing part of a ban imposed over the tech giant's exports to Iran and North Korea.The Commerce Department's order this week follows a settlement under which ZTE agreed to pay a $1 billion fine, replace its executive team and hire U.S. compliance officers.ZTE will be allowed to conduct business with American companies to maintain existing telecom networks and mobile phones and to support security features, according to the order by the department's Bureau of Industry and Security. That permission lasts through Aug. 1.The company headquartered in the southern city of Shenzhen suspended most operations after it was banned in April from buying U.S. components and technology.ZTE pleaded guilty in March 2017 and agreed to pay a $1.19 billion penalty for having shipped equipment to Iran and North Korea in violation of U.S. regulations. The company promised to discipline employees involved in the scheme, but the Commerce Department said this week they were paid bonuses instead.The company had been paying American suppliers an estimated $1.8 billion annually.
2018-07-05 00:00 阅读量：1278
热门分类
盒子，外壳，机架 电缆，电线 电路保护 连接器，互连器件 开发套件 机电产品 嵌入式解决方案 风扇，热管理 光电元件 其它 无源元件 电源 半导体 传感器，变送器 测试与测量
  • 一周热料
  • 紧缺物料秒杀
型号 品牌 询价
MC33074DR2G onsemi
BD71847AMWV-E2 ROHM Semiconductor
TL431ACLPR Texas Instruments
RB751G-40T2R ROHM Semiconductor
CDZVT2R20B ROHM Semiconductor
型号 品牌 抢购
STM32F429IGT6 STMicroelectronics
BU33JA2MNVX-CTL ROHM Semiconductor
TPS63050YFFR Texas Instruments
ESR03EZPJ151 ROHM Semiconductor
IPZ40N04S5L4R8ATMA1 Infineon Technologies
BP3621 ROHM Semiconductor
热门标签
ROHM
Aavid
Averlogic
开发板
SUSUMU
NXP
PCB
传感器
半导体
原厂授权品牌
更多授权品牌>>
资讯排行榜
  • 周排行榜
  • 月排行榜

相关百科
关于我们
AMEYA360微信服务号 AMEYA360微信服务号
AMEYA360商城(www.ameya360.com)上线于2011年，现 有超过3500家优质供应商，收录600万种产品型号数据，100 多万种元器件库存可供选购，产品覆盖MCU+存储器+电源芯 片+IGBT+MOS管+运放+射频蓝牙+传感器+电阻电容电感+ 连接器等多个领域,平台主营业务涵盖电子元器件现货销售、 BOM配单及提供产品配套资料等，为广大客户提供一站式购 销服务。