To comply with US mandate, ZTE names new CEO, other top executives

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For those who came in late, ZTE was banned for trading with Iran and then not being apologetic enough afterwards by disciplining the executives who conspired to evade USA sanctions.

As part of the settlement agreement reached in June with USA authorities, ZTE promised to overhaul its management and it now is.

In addition, according to the report, deputy CTO Wang Xiyu will become CTO, while wireless technology expert Xu Feng will head up the vendor's devices business.

In recent days, several people have also seen Xu, who is normally stationed in the company's Nanjing operation, at ZTE's main campus in Shenzhen.

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A ZTE spokesman declined to comment.

The maker of smartphones and networking gear named the former head of its Germany business, Xu Ziyang, as its new chief executive officer, the Journal said, citing a person familiar with the matter.

"In the environment of a Sino-US trade war, in the "white terror" of a technology war, all executive presidents including me have signed termination contracts to formally leave the company yesterday", Zhang said.

ZTE has suffered huge losses from a shutdown of its operations in the wake of the United States ban.

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Some employees Reuters spoke to have expressed concerns about whether a new board and management could settle in smoothly to successfully revive the firm without the help of veterans. Last week, eight members of the ZTE board resigned and were replaced, with Lie Zixue elected as the new chairman.

According to a document obtained by Bloomberg, due to pressure from the Trump administration, the U.S. Department of Commerce's Bureau of Industry and Security has authorized ZTE to resume some business activities as a deal is worked out regarding its ban in the country.

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