According to Bloomberg, Arm’s board is close to a new way to fire Arm China’s CEO from the company. CEO Allen Wu was fired in 2020 by the board of directors, which consists of representatives of SoftBank, Arm and Chinese investors, due to a possible conflict of interest. On the other hand, Wu has not left until now; In addition to lawsuits, he may also hold important physical documents such as company seals and registration documents, making him seemingly inviolable.
According to Bloomberg sources, Arm is in talks with the Chinese government to appoint a new CEO through its official government database. This, combined with the replacement of important documents, will make it possible to really get rid of Wu soon. According to Arm and SoftBank, although the joint venture is theirs, the CEO has declared independence from the parent company for now.
Arm is looking to buy the Chinese arm of the company, which is owned by Chinese investors and SoftBank before the company goes public. Once the deal between ARM and Nvidia is broken, uniformity in Arm’s line is essential for a good IPO to happen.
Source: Bloomberg
Source: Hardware Info
