Huawei CFO Meng Wanzhou to serve as rotating chair

Huawei CFO Meng Wanzhou to serve as rotating chair

Meng Wanzhou CFO.jpg

Meng Wanzhou (pictured), Huawei’s chief financial officer (CFO) will serve as rotating chairwoman of the company.

Meng, the daughter of Huawei founder Ren Zhengfei, returned to China last year after being detained in Canada for three years over fraud charges after allegations emerged that Huawei-linked companies sold equipment to Iran.

However, over the past few years, the US imposed trade restrictions on Huawei impacting its business revenue as it pivoted its business operations.

In September 2021, Meng was allowed to return to China after US prosecutors agreed to end the fraud case.

The rotating chairperson is a shared role with each holder of the position taking helm of the company for six months.

Ken Hu recently took on the role with Xu Zhijun due to take over the role in October 2022.

Meng will remain as CFO for the foreseeable future but will become its rotating chair when it is her turn, although this date was not specified by the Chinese company.

Huawei recently announced in its latest financial results that its revenue had fallen 28.5% as a result of the continued US sanctions.

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