When it seemed that the soap opera that was living ARM in China with a rebellious CEO The one who had decided to fire in 2020 and who was reluctant to give up control of the company had ended, a new chapter in history opens. Although the Chinese authorities have granted ARM China a new business license, and the corresponding stamp for it, and that have accepted their two new CEOs proposed by SoftBank, owner of ARM, Allen Wu continues to refuse to leave the position from which he has been expelled, as they assure from Reuters.
According to ARM China, Wu refuses to accept his dismissal, effective from last week. In addition, the subsidiary has announced that it will bypass the company’s communications system to protect it from the harmful operations of Wu and his supporters. Because Wu, who has also been fired as the company’s legal representative, still has several supporters among the staff.
ARM China is a Shanghai-based joint venture started by Britain’s ARM and investment fund Hopu Investment. He first tried to fire Wu in 2020, citing a conflict of interest, but then he refused to resign and continued to maintain control of ARM China, complicating the parent company’s efforts to audit the subsidiary’s financial health, which is vital to get the IPO that ARM plans.
Now he is still at the same point, despite the fact that he already has a second dismissal. It has been “refused to comply with the decision of the board, deliberately defying the conclusion of the law and has refused to cede your managerial tasks«.
As pointed out by ARM’s Chinese subsidiary, Wu and his supporters have used various social media accounts to show their opposition to the decision of the board of directors of their Chinese subsidiary, so they have designated the ARM China Weibo account as your official channel of communication. In addition, they have indicated that they value taking legal action against those who use other company channels, on WeChat and other websites associated with the subsidiary, to spread false information.