INSUBCONTINENT EXCLUSIVE:
A number of top executives are out at ZTE as the phone maker works to fulfill the requirements of U.S.-imposed restrictions
Among the big changes up top is new CEO Xu Ziyang, who formerly headed up the company operations in Germany
A new CFO, CTO and head of HR have been named, as well, according to The Wall Street Journal.
The move comes a few days after company slowly
began to resume some business operations on a one-month waver, following a seemingly D.O.A
The ban was announced back in April, after the company failed to appropriately punish top employees over Iran/North Korean trade violations
Trump, however, was quick to toss the company a lifeline, citing potential job loss in China
The President willingness to bail out ZTE has been met with staunch criticism by many, including members of his own party
A bipartisan push in Congress to reinstitute the ban began in Congress last month
Many of the issues appear to stem from ties to the Chinese government that also put Huawei in hot water with U.S
security orgs.
For now, however, the company appears to be springing back to life, as it rushes to comply with the most recent laundry list
The moves come in the wake of a $1 billion fine and the effective freeze on operations as the company mulled a way forward without relying
businesses like Google and Qualcomm
In that time, ZTE has lost billions, and grappled with other…inconveniences
Of course, even with these changes, the company isn&t out of the woods just yet
In addition to on-going financial issues, security and other concerns could be enough to put consumers in the U.S
and other countries off the company altogether
