Huawei CFO to take rotating chair role on 1 April - Mobile World Live

Huawei CFO to take rotating chair role on 1 April

29 MAR 2023

Huawei lined up CFO Meng Wanzhou (pictured) to become rotating chair on 1 April, with the daughter of founder Ren Zhengfei stepping into the top role nearly a year after being named as the replacement for Guo Ping on the three-person rotation.

Meng will serve for six months as part of a rotation also comprising Ken Hu and Eric Xu.

When Huawei announced Meng as a rotating chair, it stated she would also be deputy chair and remain CFO.

She takes the lead as Huawei faces increasing trade restrictions from the US.

In a recent speech, Ren said the company is making progress in sourcing and developing local alternatives to components it was no longer able to buy from US companies due to the sanctions.

Huawei is blocked from importing the latest silicon due to national security concerns in the US and with new curbs on China-based companies importing chip manufacturing equipment, its access to high-end semiconductors will be further hampered.

The company is due to release its 2022 earnings on 31 March.

In early January, Xu said business was back to normal and predicted revenue to be flat after declining in 2021.

Meng was under house arrest in Canada for nearly three years facing extradition related to fraud charges and returned to China in September 2021.



Joseph Waring

Joseph Waring joins Mobile World Live as the Asia editor for its new Asia channel. Before joining the GSMA, Joseph was group editor for Telecom Asia for more than ten years. In addition to writing features, news and blogs, he...

Read more