Exclusive | ZTE fills executive ranks with new management, picks replacement CEO

ZTE Corp, the Chinese telecoms giant hit by US sanctions, has tapped an in-house executive with experience in product research and operations to serve as new CEO as it endeavors to get back on track as quickly as possible after receiving the green light from US authorities to resume business for one month.

Xu Ziyang, president of ZTE’s Telecom Cloud and Core Network product line, has been selected as the new CEO, according to people familiar with the matter.

A call made to Xu through ZTE’s main line went unanswered. A ZTE spokesperson declined to comment.

Li Ying, currently a vice-president in the finance department, will take over the role of CFO while Gu Junying, a newly elected executive director on the new board, will head the company’s human resources department, according to the people, who asked not to be named as the information remains confidential.

The US banned ZTE from buying any American electronics parts after the company violated US trade laws by selling products to US-sanctioned Iran and North Korea, then covering it up and lying about it.

In recent days, several people have also seen Xu, who is normally stationed in the company’s Nanjing operation, at ZTE’s main campus in Shenzhen. Previously, Xu served as the CEO of ZTE’s German operation, at a time when the Chinese company signed a five year service contract with German telecoms operator E-Plus, displacing the previous provider Alcatel-Lucent.