ZTE’s board of directors is expected to meet this week to pick new executives.
The change in leadership comes in the wake of accusations from the U.S. that ZTE worked to circumvent trade sanctions against Iran. The Department of Commerce says ZTE execs set up shell companies in order to ship banned technology to Iran. The government put an export ban in place against ZTE in response, but has since relaxed the ban somewhat.
ZTE is scrambling to repair the damage, as it relies on U.S. components for many of its products. ZTE CEO Shi Lirong is expected to be replaced in the shakeup, as are executive vice presidents Tian Wenguo and Qiu Weizhao, according to the Wall Street Journal.
ZTE’s board will meet mid-week to discuss new leaders.
