ZTE names Zhao Xianming as president

Chinese telecoms equipment maker ZTE has appointed current chief technology officer Zhao Xianming as its new president, replacing Shi Lirong, who had been in the role for six years. In addition, ZTE has appointed Wei Zaisheng as CFO and named seven new executive vice presidents, including Wei.

Chinese telecoms equipment maker ZTE (OTCMKTS:ZTCOF) has appointed current chief technology officer Zhao Xianming as its new president, replacing Shi Lirong, who had been in the role for six years.

Zhao is also the new chairman, succeeding Hou Weigui, who has retired from his role as non-executive chairman.

In addition, ZTE has appointed Wei Zaisheng as CFO and named seven new executive vice presidents, including Wei.

The company did not elaborate on the reasons why it made the new appointments but, according to reports, these come just a few weeks after the US Commerce Department imposed tougher export restrictions on ZTE for allegedly failing to comply with certain rules. The US government has since temporarily eased the sanctions.

ZTE was not immediately available to comment on the reports.

Zhao, who graduated from the Harbin Institute of Technology in 1997, first joined ZTE in 1998 to work on the research, development and management of CDMA products. In January 2014, he became CTO and has been executive director of the company since November 2015.