Arm China has managed to replace CEO Allen Wu, after he was dismissed by the company’s board two years ago.
As reported by PC Gamer, Wu has been able to stick around at Arm China due to his possession of the company’s seal stamp, called a ‘chop’. A ‘chop’ is a centuries-old business practice that’s similar to a formal signature in the west, and his possession of it essentially allowed him to ignore anything the board asked.
Arm China is a joint venture between Arm, a UK-based chip designer owned by Japanese firm Softbank, and the Chinese investment firm called Hopu. The board wanted to get rid of Wu due to concerns over a conflict of interest, though Wu denies this even now. While he was technically removed in June 2020, he denied he was fired too.
