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ZTE replaces leadership to meet US demands
ZTE is fulfilling one of the US' key demands in its attempt to avoid a renewed export ban. Days before a 30-day deadline, the Chinese tech giant has replaced a whole suite of executives, including its CEO. All of the new leaders are company veterans, including new chief exec Xu Ziyang (who has been with ZTE since 1998). The move comes a few days after the company took on a new board of directors to meet American requirements, which also include paying a $1 billion fine, putting $400 million in escrow and accepting a US-chosen corporate monitor.
