Tag Archives: Executives

ZTE given temporary reprieve from U.S.; removes more executives
July 4, 2018 6:31 am|Comments (0)

NEW YORK/HONG KONG (Reuters) – China’s embattled ZTE Corp (0763.HK) has received a temporary reprieve from the U.S. government to conduct business needed to maintain existing networks and equipment as it works toward the lifting of a U.S. supplier ban.

FILE PHOTO: The logo of China’s ZTE Corp is seen at the lobby of ZTE Beijing research and development center building in Beijing, China June 13, 2018. REUTERS/Jason Lee/File Photo

ZTE (000063.SZ), which makes smartphones and networking gear, was forced to cease major operations in April after the United States slapped it with a supplier ban, saying it broke an agreement to discipline executives who conspired to evade U.S. sanctions on Iran and North Korea.

The authorization seen by Reuters from the U.S. Commerce Department’s Bureau of Industry and Services runs from July 2 until Aug. 1.

It allows China’s No.2 telecommunications equipment maker to continue operating existing networks and equipment and provide handset customer support for contracts signed before April 15. It also permits limited transfer of funds to or from ZTE.

On Tuesday, ZTE also announced the departure of 1 senior executive in a stock exchange filing, while a source who saw an internal memo told Reuters seven others were removed. As part of its settlement agreement reached in June with U.S. authorities, ZTE had promised to radically overhaul its management.

The company also agreed to pay a $ 1 billion penalty and put $ 400 million in an escrow account as part of the deal to resume business with U.S. suppliers – which provide almost a third of the components used in ZTE’s equipment.

ZTE said in exchange filings late on Tuesday that Xu Weiyan, a shareholders’ representative supervisor in the company’s supervisory committee, has resigned due to personal commitments with immediate effect and no longer holds any position in the company.

An insider source told Reuters a memo was sent out on Tuesday announcing the removal of seven other executives, without providing a reason. They included vice presidents Wang Keyou, Xie Jiepeng and Ma Jie, who were in charge of the legal, finance and supply chain departments, respectively.

Reuters could not immediately contact them for comment. The source declined to be identified due to the sensitivity of the matter.

As part of the deal to lift the supplier ban, ZTE had agreed to remove all members of its leadership at or above the senior vice president level, along with any executives associated with the wrongdoing within 30 days.

It is not immediately clear whether the eight departures on Tuesday were related to ZTE’s compliance violation.

ZTE announced a new board last week in a radical management shakeup. Li Zixue was appointed the new chairman while the previous board led by Chairman Yin Yimin resigned with immediate effect.

Despite the agreement reached almost a month ago, the ban is yet to be lifted amid strong opposition among some U.S. politicians. ZTE has made the $ 1 billion payment but has yet to deposit the $ 400 million in escrow, according to sources.

The uncertainty over the ban amid intensifying U.S.-China trade tensions has hammered ZTE shares, which have cratered around 60 percent since trading resumed last month following a two-month hiatus, wiping out more than $ 11 billion of the company’s market valuation.

ZTE’s Hong Kong shares were down 0.5 percent on Wednesday, while its Shenzhen shares were up more than 4 percent.

Jefferies on Monday upgraded ZTE to a “buy” rating from “underperform”. Its analyst, Edison Lee, said in a note on Tuesday that the temporary reprieve was “a very positive indication that ZTE is on track to a full lifting of the export ban”.

A representative for ZTE declined to comment. The U.S. Department of Commerce did not respond to requests for comment.

Reporting by Karen Freifeld, Anirban Paul and Sijia Jiang; Writing by Tim Ahmann; Editing by Leslie Adler and Marguerita Choy

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Contrite Facebook executives seek to ward off more European rules
January 21, 2018 6:00 pm|Comments (0)

MUNICH (Reuters) – Facebook executives are fanning out across Europe this week to address the social media giant’s slow response to abuses on its platform, seeking to avoid further legislation along the lines of a new hate speech law in Germany it says goes too far.

Facebook’s communications and public policy chief used an annual meeting in Munich of some of Europe and Silicon Valley’s tech elite to apologize for failing to do more, earlier, to fight hate speech and foreign influence campaigns on Facebook.

“We have to demonstrate we can bring people together and build stronger communities,” the executive, Elliot Schrage, said of the world’s biggest information-sharing platform, which has more than 2 billion monthly users.

“We have over-invested in building new experiences and under-invested in preventing abuses,” he said in a keynote speech at the DLD Munich conference on Sunday.

In the United States, lawmakers have criticized Facebook for failing to stop Russian operatives using its platform to meddle in the 2016 presidential elections, while Britain’s parliament is looking again at the role such manipulation may have played in Britain’s Brexit vote to leave the European Union.

(reut.rs/2FZJlXB) ((reut.rs/2y9i98F)

A German law that took effect at the start of the year requires social networks such as Facebook, Google and Twitter to remove online hate speech or face heavy fines. (reut.rs/2rm6AI2)

“It sets forth the right idea for the relation between government and the private sector but it also goes farther than … we think it should go,” Schrage said of the law.

”At the same time the law places the responsibility on us to be judge and jury and enforcer determining what is legally compliant and not. I think that is a bad idea.

“The challenge is how to define where the violation has been or not,” he said.

By contrast, Schrage praised the approach of the European Union in demanding that internet companies adhere to a code of conduct and respond quickly to requests to take down illegal content rather than being required to make those decisions themselves.

“That’s an example of how we can work with governments to be more responsive to their concerns,” Schrage said of the EU.

The EU has put internet companies on notice that it will legislate if they don’t do a better job self-policing their services for extremist propaganda, hate speech and other abuses. (reut.rs/2DmXGeU)

NO WILD WEST

Far from being a “Wild West of content”, Schrage argued, Facebook’s policies on policing content are far more in line with Europe’s strict boundaries governing hate speech than the anything-goes reputation it has coming from Silicon Valley.

“We are often criticised for being an American company. But our policies with respect to speech and expression are much closer to how the standards have evolved in Europe than they are in the United States,” Schrage said.

“We do not permit hate speech, we do not permit incitement. There is a tremendous amount of content we remove regularly. When we see content related to terrorism, to hate speech, to incitement, we reach out to law enforcement,” he said.

But several tech leaders in the audience said Facebook had long ignored what are effectively editorial responsibilities for policing abusive content on its platform.

Schrage said Facebook now employed thousands of people to monitor content and to work more closely with law enforcement, while automated algorithms detect and delete 99 percent of Islamic State and al Qaeda content before any Facebook users ever see it.

Paul-Bernhard Kallen, chief executive of Hubert Burda Media, one of Germany’s largest publishers, said Facebook has avoided responsibility for moderating content on its platform.

“From my perspective, Facebook is a media company. One way or the other, Facebook should accept it,” Kallen said of taking more control over content or facing regulatory demands to do so.

Facebook Chief Operating Officer Sheryl Sandberg is meeting policymakers in Paris and Brussels, while Schrage is touring Germany. Later this week they will converge on Davos, the annual policy gathering of world politicians, business chiefs, bankers and celebrities taking place in the Swiss Alps.

Facebook founder and chief executive Mark Zuckerberg, who has declared earlier this year that his 2018 goal is to “fix” Facebook, is staying home (reut.rs/2F2w8g6).

Reporting by Eric Auchard and Douglas Busvine in Munich; Editing by Adrian Croft

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India incredibly unique, valuable market: Microsoft executives
April 3, 2016 6:30 am|Comments (0)

Underlining the importance of the Indian market from the perspective of Cloud computing, Microsoft’s Cloud Platform General Manager Julia White …

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