Huawei has reinvigorated succession plans with Sabrina Meng, the CEO’s daughter

Huawei had a plan to succeed its CEO and founder Ren Zhengfei, who is already 78 years old.But the complex moment the company is going through after the US overturned and the arrest of the future heiress forgot to delay it.

Now Huawei has decided to reactivate its succession and has announced it Sabrina Meng (Western name of Meng Wanzhou) will become The director of Huawei is rotating from April 1stIt also announced during the presentation of its economic results for the year 2022.

The appointment of Meng, who takes over the helm of Huawei for the first time, is crucial to the company’s future because it is precisely She is the daughter of Ren Zhengfeiwho has led the company since its inception in 1987.

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Huawei had already announced last year that Meng would join its own system of rotating directors, in which 3 executives rotate in positions every 6 months. The other two chairmen are Eric Xu, who has held the position so far, and Ken Hu.

The company is moving forward and will not put its future on the shoulders of one person.Meng emphasized during Huawei’s results event, referring to the rotating presidency.

How the current director of Huawei was arrested in Canada

Meng Wanzhou, chief financial officer and daughter of Huawei’s founder.Daryl Dick/The Canadian Press via AP

In addition to being the CEO’s daughter, Meng is best known for starring in one of the biggest episodes of diplomatic tension between the United States and China when He was arrested in Canada in December 2018 on charges of bank and electronic fraud.

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The US issued an arrest warrant and sought his extradition, alleging that Meng misled HSBC about Huawei’s relationship with a company called Skycom that was allegedly negotiating with Iran to sell equipment despite international sanctions against Iran.

When Meng landed in Canada with the intention of continuing her journey to Mexico, Canadian authorities detained her under the International Warrant.

Although she was released days later on $1 million bond and was not extradited to the United States, the executive branch He was under house arrest for 3 yearsuntil 2021, when he is finally able to return to China.

Prior to that, she reached an agreement with the US Department of Justice in which she was forced to admit some wrongdoing in her statements to HSBC, with the prosecution withdrawing the charges in 2022, finally declaring the defendant “not guilty”.

Sabrina Meng, who will remain Huawei’s chief financial officer, in addition to being Huawei’s rotating chairman, has a term ahead in 2023 full of unknowns for the Chinese tech giant, which, though it halted a decline in revenue for the first time since its 2019 veto, He will focus on the profitability of his business and will try to reverse the sharp decline in profits last year.

“The only thing we can do is adapt to the environment to provide the best possible response,” Meng said of Huawei’s investor concerns.

Aileen Morales

"Beer nerd. Food fanatic. Alcohol scholar. Tv practitioner. Writer. Troublemaker. Falls down a lot."

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