HONG KONG—ZTE Corp. has named a slate of new top executives, including a new chief executive, a person familiar with the matter said, as the Chinese telecom firm presses ahead with its U.S.-mandated leadership purge.
ZTE’s ZTCOY, +10.17% new CEO is Xu Ziyang, the former head of the company’s business in Germany, the person said. The company also named a new chief financial officer, as well as a new chief technology officer and a new head of human resources, the person said.
The new leadership comes less than a week after ZTE’s board of directors resigned and shareholders voted to install a new eight-person board. ZTE is required to name a new board and senior executives as conditions for the U.S. government to lift a ban on purchasing American-made parts.
A formal announcement of the leadership changes is expected as soon as late Thursday, the person said. News of the new executives was earlier reported by the South China Morning Post. Xu didn’t immediately respond to a request for comment, and a ZTE spokeswoman declined to comment.
The reversal of the sales ban was announced last month by Commerce Secretary Wilbur Ross. The sales ban was imposed in April after the Commerce Department found that the Chinese company violated the terms of a settlement resolving sanctions-dodging sales of telecom gear to Iran and North Korea.
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