SoftBank's ARM Says China Joint Venture Replaces CEO

ARM China is a Shanghai-based joint venture between British chip designer ARM and Chinese private equity firm Hopu Investments.

By Reuters | Updated: 10 June 2020 11:26 IST

SoftBank's ARM Says China Joint Venture Replaces CEO

ARM China generates revenue by licensing chip architecture to Chinese companies

Highlights

ARM China is a joint venture between ARM and Hopu Investments
ARM China's board has appointed Ken Phua and Phil Tang as interim co-CEOs
ARM China was established in 2018

SoftBank Group-owned chip technology firm ARM said on Wednesday the chief executive officer of its China joint venture, Allen Wu, has stepped down and been replaced.

ARM said ARM China's board of directors has appointed Ken Phua and Phil Tang as ARM China's interim co-CEOs to replace Wu, who headed the joint venture as chairman and CEO.

ARM China is a Shanghai-based joint venture between British chip designer ARM and Chinese private equity firm Hopu Investments.

Wu did not immediately respond to a message sent to his LinkedIn account.

ARM China, which generates revenue by licensing chip architecture to Chinese companies, was established in 2018 when SoftBank sold a 51 percent stake in ARM's Chinese subsidiary, ARM Technology (China) Co Ltd, to a group of Chinese investors. Softbank acquired Arm in 2016 for $32 billion (roughly Rs. 2.41 lakh crores).

The personnel change comes as the United States and China remain caught in a spat over technology. Last month, the Department of Commerce placed additional restrictions on smartphone maker Huawei that would prevent certain American companies from supplying to it.

Last October, the British company said it would continue to supply its designs to Huawei after ruling they did not breach US rules.

© Thomson Reuters 2020

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