Chinese mobile phone maker ZTE has reshuffled its top management to fulfil the requirements of US-imposed restrictions. Some of the senior management changes were CEO, CFO and Head of Human Resource. Among the big changes up top is new CEO Xu Ziyang, who formerly headed up the company’s operations in Germany.
The move comes after the company resumed operations on a one-month waiver after a seven-year export ban. ZTE received the ban in April after it failed to punish top employees over trade violations. The company was fined a massive $1 billion and the operations were frozen.
The Chinese phone maker is present in India since 2003 and every year the company is consolidating its footprint. Currently, the company is focusing on the expansion of its portfolio of their phone offerings. ZTE is pumping more money into promotions and branding and going forward it’ll open more exclusive stores in India.
Image Source- Tech Crunch