China's ZTE names new management in wake of U.S. export restrictions

Reuters News
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Posted: Apr 05, 2016 5:31 AM

BEIJING (Reuters) - ZTE Corp named a new management team on Tuesday, just weeks after the U.S. government imposed tough export restrictions on the Chinese telecom equipment maker for allegedly breaking sanctions against Iran.

The U.S. government has since said it would ease the restrictions until the end of June and could further ease them if ZTE cooperated in "resolving the matter".

On Tuesday, ZTE said it had named current Chief Technology Officer Zhao Xianming as its new President.

Zhao replaces Shi Lirong, who has been in the role since 2010.

The company reshuffles management every three years, and the changes are in line with the company's regular schedule, a ZTE spokesman told Reuters on Monday.

(Reporting by Paul Carsten; Editing by Christopher Cushing)