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Arm's Chinese joint venture replaces CEO

Arm's Chinese joint venture replaces CEO

reuters.com · 04/28/2022 23:11
Arm's Chinese joint venture replaces CEO

- Arm Ltd said on Friday the board of its Chinese joint venture had replaced the unit's CEO, as the UK-based chip designer looks to resolve the unit's longstanding governance issues.

A spokesperson for the Softbank-owned firm said Arm China's board had voted unanimously to appoint Liu Renchen and Eric Chen as Arm China's co-CEOs, adding that Liu had been registered with and accepted by the Shenzhen government as Arm China's legal representative and general manager.

Arm has since 2020 been involved in a standoff with Allen Wu, the chief executive of its Chinese division, Arm China. He has refused to step down amid allegations of breaches of conduct.

Arm China and Allen Wu did not immediately respond to requests for comment.

(Reporting by Jane Lee in San Francisco and Brenda Goh in Shanghai; Editing by Jacqueline Wong)

((brenda.goh@thomsonreuters.com; +86 (0) 21 2083 0088; Reuters Messaging: brenda.goh.thomsonreuters.com@reuters.net))