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SoftBank Group Corp-owned chip technology firm Arm Ltd said on Wednesday the chief executive officer of its China joint venture, Allen Wu, has stepped down and been replaced.<\/p>\n
KEY POINTS:<\/p>\n
Arm Ltd said Arm China’s board of directors has appointed Ken Phua and Phil Tang as Arm China’s interim co-CEOs to replace Wu, who headed the joint venture as chairman and Chief Executive Officer.<\/p>\n
Arm China is a Shanghai-based joint venture between British chip designer Arm Ltd and Chinese private equity firm Hopu Investments.<\/p>\n
Wu did not immediately respond to a message sent to his LinkedIn account, and a Hopu spokesman did not immediately respond to a request for comment.<\/p>\n
Arm China, which generates revenue by licensing chip architecture to Chinese companies, was established in 2018 when SoftBank sold a 51% stake in Arm Ltd’s Chinese subsidiary, Arm Technology (China) Co Ltd, to a group of Chinese investors. Softbank<\/a> acquired Arm in 2016 for $32 billion.<\/p>\n The personnel change comes as the United States and China remain caught in a spat over technology. Last month, the Department of Commerce placed additional restrictions on smartphone maker Huawei Technologies that would prevent certain American companies from supplying to it.<\/p>\n Last October, the UK company said it would continue to supply its designs to Huawei after ruling they did not breach US rules.<\/p>\n Tags:<\/b> Josh HorwitzSee Campaign: <\/strong>https:\/\/www.platformexecutive.com\/<\/a>
Contact Information:<\/b>
Josh Horwitz
\nStephen Nellis<\/p>\n
<\/a>, Wire<\/a>, United States<\/a>, English<\/a><\/p>\n<\/div>\n
\nContact Information:<\/h3>\n
\nStephen Nellis<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"SoftBank Group Corp-owned chip technology firm Arm Ltd said on Wednesday the chief executive officer of its China joint venture, Allen Wu, has stepped down and been replaced. KEY POINTS: SoftBank owned Arm Ltd has announced that the CEO of its China joint venture, Allen Wu, has stepped down Arm China is a joint venture … Continue reading SoftBank’s Arm says China joint venture replaces Chief Executive<\/span><\/a> Continue Reading