Huawei has announced that CFO Meng Wanzhou will become the vendor’s rotating chair for six months from 1st April.
Meng was appointed to the rotation almost a year ago, replacing Guo Ping. The other incumbents are Eric Xu and Ken Hu. At the time, Meng was also named deputy chair alongside her continued position of CFO.
One of the more high profile Huawei executives, Meng is the daughter of founder Ren Zhengfei. She was arrested in late 2018 in a high-profile incident and remained under house arrest in Canda for three years, with the US demanding her extradition on fraud charges. She has since been cleared and returned to China in September 2021.
Meng’s tenure begins as the US continues to impose trade sanctions on Huawei and Chinese companies in general, banning the vendor from importing silicon and continuing its embargo on Chinese firms importing equipment for chip manufacturing.
In a recent public speech, Ren noted that Huawei would offset the impact of these import restrictions by both developing new components in-house and using existing domestic alternatives. The vendor will release its earnings call for 2022 on 31st March, with Xu claiming in January 2023 that business had rebounded to normal levels, adding that he expected revenue to stabilise after dropping in 2021.