Chinese tech company ZTE has named a new CEO as it tries to deliver on a deal with the USA government that would allow it to get back to business.
The department said it imposed the ban on ZTE because the company breached a 2017 deal in which it agreed to pay a fine for violating sanctions on Iran and North Korea.
The new CEO reportedly is Xu Ziyang, the former head of ZTE's Germany branch.
Probably following the directive of US President Donald Trump several weeks ago, it looks like the US government is giving Chinese tech brand ZTE a little room to breathe.
A spokeswoman for ZTE declined to comment.
The reprieve comes as ZTE announced the departure of a senior executive in a stock-exchange filing, in what appeared to be a move to comply with its agreement to shake up its management. It seems as the company has also named a new chief technology officer, new head of human resources, chief monetary officer and chief expertise officer.
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