April 25, 2024

Founder’s daughter to take over management

A politically sensitive personnel decision is pending at the helm of Chinese telecom giant Huawei. The daughter of the company’s founder, Huawei CFO Meng Wanzhou, who was once targeted by the US Justice Department, is set to take over as rotating chairman of the board for the first time on April 1. Informed sources confirmed to the German Press Agency in Beijing that a succession plan for his 78-year-old father, Ren Zhengfei, should be launched.

The 51-year-old’s rise to top management could fuel massive political reservations against Huawei in the US. According to press reports, US President Joe Biden is currently considering tightening sanctions against the company. So Huawei could be completely denied access to semiconductors from important US suppliers like Qualcomm or Intel. The US raises security concerns, which Huawei dismisses as unfounded.

The daughter of the famous company’s founder became a key figure in the conflict with the United States when she was arrested in late 2018 at the request of the US Department of Justice on bank fraud charges to evade sanctions against Iran in Canada. Meng Wanzhou was held under house arrest in Vancouver for three years and fought a legal battle against extradition to the United States.

China increased pressure on Canada by arresting two Canadians suspected of spying for China. Diplomats spoke of “hostage politics”. In September 2021, Meng Wanzhou was able to return to her homeland, where she was hailed as a heroine, after striking a deal with US prosecutors – in exchange for the release of two Canadians. The chapter closed last December when US attorneys asked a New York court to close the case.

See also  News from Tennis - Swiss women's group plays against Canada for victory - Sports