News

Huawei CFO Meng Wanzhou Named Rotating President

Huawei’s CFO, Meng Wanzhou, experienced a very difficult situation when she was arrested in Canada three years ago, although in the end the negotiations came to fruition and the executive was released last year. It goes without saying that she was received with open arms, not surprisingly, since beyond the important position she holds in the company, we must remember that she is the daughter of Huawei founder Ren Zhengfei.

From Reuters they have confirmed that Meng Wanzhou has become the temporary president of the company, a position that is held on a rotating basis and that will be held for a period of six months. When those six months have passed, the rotating president’s turn will fall to another of the executives who is entitled to it. As president of Huawei, Meng Wanzhou will head the board of directors, although it has not been specified when she will start her term.

The other two rotating presidents of Huawei are Eric Xu and Ken Hu, two very important figures in the Chinese giant who will share the position of president with Meng Wanzhou following this rotating scheme every six months. According to a Huawei spokesperson:

“The company is optimizing and refining its internal governance structure to ensure that the company is built to last. The supervisory board is responsible for the survival, development and long-term prospects of the company.”

As our regular readers will recall, Meng Wanzhou, who is also known by her Western name Sabrina, was accused of having violated the sanctions imposed by the United States to Iran since, in theory, it would have tried to sell technological equipment to companies that were linked to the government of that country.

Those accusations had consequences that went beyond the arrest of the executive, and led to significant sanctions on Huawei which, in the end, ended up notably affecting its mobile business unit. Its impact was so great that the Chinese company fell off the list of the largest sellers of smartphones internationally.

In the end, it was possible to a deal with the US attorneyand this made it possible for the daughter of the founder of Huawei to return to China and not be extradited to the United States.

Related Articles

Leave a Reply

Your email address will not be published.