Former CEO of 'Arm China' who stole Arm's IP is requested to be dismissed, but is rebelling using SNS

Softbank's subsidiary, the global semiconductor company Arm , has offices all over the world, but the joint venture Arm China, which had license rights in China, unilaterally declared independence and intellectual property. It was reported in 2021 that the company continued to sell by stealing intellectual property rights (IP) . Newly, Allen Wu, who led the independence of Arm China, continues to claim his rights as CEO using Arm China's official SNS account, despite being expelled by Arm China's board of directors. It has been reported.

Arm China says its ousted CEO Wu is refusing to pack up | Reuters
https://www.reuters.com/technology/arm-china-says-its-ousted-ceo-wu-is-refusing-pack-up-2022-05-05/

Arm's parent company, Softbank, announced in June 2018 that it sold a majority stake in Arm China and made Arm China a joint venture. With the joint venture, Arm China will have exclusive control over Arm's IP licenses in China, but Arm Chine CEO Allen Wu said, 'If you invest in your company, you will get a license. It turns out that they are approaching customers with a contract to 'discount fees'. Arm China's board of directors, who saw this corruption as a problem, passed the dismissal of CEO Wu in 2020 with 7: 1 against.

Although Mr. Wu was dismissed as CEO by the board of directors, the company seal of Arm China remained in his possession. In China, the company seal has legal effect, so Mr. Wu's dismissal procedure could not proceed, and Mr. Wu continued to stay as CEO. In addition, Mr. Wu expelled a senior executive on the side of Arm headquarters and continued to sell Arm licensed products in China as CEO of Arm China.

Arm's Chinese joint venture declares independence from Arm, steals some licenses and customers in the Chinese market as it is-GIGAZINE

On April 29, 2022, about two years after Mr. Wu's CEO was dismissed, Arm announced that Liu Renchen and Eric Chen have been appointed as co-CEOs of Arm China. However, Mr. Wu opposed this decision and made a statement that 'more than 430 employees are in favor of the survival of CEO Wu' through the Arm China account opened on the major Chinese SNS 'WeChat' and other SNS. It has spread.

After that, on May 5, 2022, the official Arm China account of China's major SNS 'Weibo' 'appointed Mr. Liu Renchen and Mr. Eric Chen as co-CEO' 'Weibo will be the only official of Arm China from now on.' SNS. Opinions posted on other services such as WeChat are not the official views of Arm China. '' Arm China may take legal action against false opinions, 'said Mr. Wu. He emphasized that the information disseminated is not the official view of Arm China.

In addition, on May 6, 2022, an official statement was posted on Arm China's official website stating that 'Liu Renchen and Eric Chen took over the business operations', with Liu Renchen and Eric Chen as co-CEOs. The official view to do is emphasized.

Softbank had been considering selling Arm to NVIDIA since around 2020, but in 2022 it abandoned the sale of Arm and started an initial public offering (IPO). However, it has been pointed out that the current situation in which Mr. Wu continues to oppose the removal of the CEO will hinder Arm's IPO process.