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Chinese kit maker names new chairman, president; talks up ‘business standards’ in wake of Iran scandal.
ZTE on Tuesday made a raft of changes to its senior management team, as it seeks to move on from the damaging Iran scandal.
Gone is Shi Lirong, who has been appointed to the board after serving as president of ZTE since April 2010. He has been replaced by Zhao Xianming, who served as CTO between January 2014 and December 205, and most recently held the role of executive director.
Zhao has also been elected chairman of the Chinese vendor, replacing founder Hou Weigui, who has held the position since 2004.
The new appointments are effective immediately, said ZTE, in a statement.
While ZTE routinely shuffles its top management, this latest restructuring comes in the wake of damaging revelations regarding its exports to Iran.
In March, the U.S. Department of Commerce placed restrictions on American-made products being supplied to ZTE after it emerged that it had violated export controls imposed on Iran.
ZTE has since been granted temporary relief from the restrictions, allowing it to continue to serve its customers while working to resolve its issues with the U.S. authorities.
ZTE did not directly address the U.S. sanctions in Tuesday’s announcement; however, it said the new management team "will strive to comply with the highest business standards."
