Arm has moved to regain control of its renegade China unit and replace its chief executive Allen Wu, as the UK chip designer seeks to clear its path to a successful public listing.
The UK chip designer will put forward two individuals to act as co-chief executives of its China joint venture and has received official sign-off to submit the paperwork, according to two people with direct knowledge of the matter.
The proposed candidates to take over as co-CEOs are Dr Liu Renchen, a government adviser and vice-dean of the Research Institute of Tsinghua University in Shenzhen and Vision Fund managing partner Eric Chen, who has been leading SoftBank’s negotiations with Chinese officials.
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