Rumor: ZTE to Establish Independent Terminal Business Group
Sina Tech, 12/31/13
According to an industry insider, Chinese telecom equipment and terminal manufacturer ZTE (0763.HK; 000063.SZ) will establish an independent terminal business group. Zeng Xuezhong, Senior VP and General Manager of the China Region at ZTE, will be wholly responsible for operations of the new group. ZTE Executive VP He Shiyou, the current head of company's terminal business, will remain an executive board member at the company, but will be re-assigned to a different managerial position.
Senior VP Zhao Xianming has been appointed as ZTE CTO, while the company will recruit internally to fill the China Region GM position vacated by Zeng as he takes over the terminal business.
Additionally, ZTE will elevate the status of its government and enterprise network business. Senior VP Pang Shengqing will be made wholly responsible for ZTE government and enterprise network operations.
According to ZTE, the company will strengthen its three major business groups in 2014, including its carrier telecom equipment, government and enterprise network, and terminal businesses. The company will also undergo strategic development within its emerging businesses, including the company's urbanization (smart city), energy-saving and emissions reduction (new energy technologies), and mobile internet product and service groups.
Editor's Note: For more background on this topic, please see "Rumor: ZTE to Spin Off Terminal Business" MD 12/31/13 issue.
Keywords: corporate restructuring handset smartphone Pang Shengqing Zhao Xianming He Shiyou wireless 000063.SZ 0763.HK ZTE Zeng Xuezhong HR
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