Arm Ltd, a known chip technology firm, has just announced that it is replacing the chief executive officer of its China joint venture. Allen Wu is stepping down and has been replaced as the CEO.
The SoftBank Group owned company has appointed Ken Phua and Phil Tang, through a decision from the company’s China board of directors. The new co-CEOs will work together to replace Allen Wu, that was heading the joint venture as chairman and CEO. For those unaware, the Shanghai based joint venture is between the British chip designer Arm Ltd and the Chinese private equity firm Hopu Investments.
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In a statement, Joe Zeng, managing director of Hpu’s Arm Innovation fund, stated that he is “confident in Arm China’s progress, and we are glad to see Arm’s continuous commitment and support to the China market.” Arm China generates revenue by licensing chip architecture to Chinese companies, with SoftBank having a 51% stack in the company.
Notably, back in 2019, the chip design maker had announced that it would continue to supply its chip designs to Huawei since it did not breach US rules. Despite saying this in October 2019, the disputes between the US and China trade relations are still strained. So, it also remains to be seen how the new leadership changes affect the Huawei and Arm relations.
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(Via)
