Saturday, May 28, 2022

Softbank regains control of Arm China after sacking Allen Wu

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Despite being sacked in 2020, the chairman and CEO of Arm China, who refused to relinquish his renowned tech leadership job, may have finally been pushed out the door. According to Reuters, Allen Wu has been replaced and all Chinese legal proceedings have been completed.

The replacement of Arm China’s CEO appears to be a hot topic right now. When Arm went to court on Wednesday to receive new corporate registration documents and a new seal (also known as a chop), it was reported that Allen Wu’s departure was impending. Mr. Wu had adamantly refused to relinquish these vital emblems of Chinese company ownership.

Mr. Wu claimed there were problems in the business registration procedure through which new documents and a new seal were produced earlie, when the wheels of business law appeared to be about to roll over him. He also wrote a letter on the WeChat page of Arm China. Even though the court issued paperwork and a seal, the group would continue with Wu as the leader, according to this letter, which was supposedly signed by 430 Arm China staff.

Allen Wu’s Exit from Arm China eminent

Arm China
credit: source

An Arm spokeswoman, on the other hand, stated that all Chinese laws had been strictly obeyed, citing a new seal and company licence issued by Chinese governmental authorities in Shenzhen. According to an Arm Ltd spokeswoman, “the relevant agency in Shenzhen has registered Dr. Liu as the company’s legal representative and general manager, and has properly awarded Dr. Liu a new chop and business licence.”

Dr. Renchen Liu is a vice dean of Tsinghua University’s Research Institute in Shenzhen. Liu will join Eric Chen, a managing partner at the SoftBank Vision Fund, as co-CEO of Arm China. Wu’s attempts to retain his throne appear to be far from finished, but this could be a huge step forward for Softbank/Arm Ltd in regaining control of its Chinese joint venture.

Arm China had previously resisted independent auditing, which was enough to derail the disastrous Nvidia contract. With Softbank preparing the Arm IPO, Arm China CEOs working together with the parent business should make the process go as smoothly as possible.

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also read:
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Nivedita Bangari
Nivedita Bangari
I am a software engineer by profession and technology is my love, learning and playing with new technologies is my passion.


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