Arm China Says Its Ousted CEO Wu is Refusing To Pack Up

Arm China said on Thursday its former CEO Allen Wu was refusing to relinquish his role despite being fired last week and that it would overhaul its communication system to protect against its misuse by Wu and his supporters. From a report: Wu, Arm China and its British parent Arm Ltd have been embroiled in a two-year-long dispute and the latest development shows a resolution is not imminent. At stake is a stock market listing for Arm Ltd, the chip designer that is owned by Japanese technology conglomerate SoftBank Group Corp. Arm announced on April 29 that Wu was ousted as Arm China's CEO and was replaced by two new Co-CEOs. He was also removed as its legal representative. Wu's ouster was opposed by some staff at the unit. Arm China, a Shanghai-based joint venture between the British company and Chinese private equity firm Hopu Investment, first tried to oust Wu in 2020, citing "conflicts of interest."

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