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China's ZTE names president, CFO to meet US demands

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China's ZTE names president, CFO to meet US demands

ZTE Corp. announced a slew of new top executives July 5 to comply with a U.S. deal aimed at ending an export ban on the Chinese telecommunications equipment maker.

In a unanimous vote, ZTE's board named Xu Ziyang president, replacing Zhao Xianming.

Xu, who joined the company in 1998, has been assistant to the president and product general manager of the CCN core network product line products since 2016.

The company also appointed Li Ying executive vice president and CFO. Meanwhile, Wang Xiyu and Gu Junying were named executive vice presidents.

Earlier, ZTE revamped its board and named Li Zixue chairman.

As part of a US$1.4-billion deal reached last month with the U.S., a compliance team handpicked by the U.S. will monitor the company's operations for 10 years. ZTE also agreed to replace its entire board and senior leadership.