Chinese tech behemoth Huawei's Richard Yu, also known as Yu Chengdong in Chinese, will no longer hold the position of CEO in the Huawei Consumer Business Group. Instead, he is expected to transition to the role of chairman, the media has reported. The new CEO will apparently be He Gang, the former Chief Operating Officer (COO).
Richard Yu To Be The First Chairman Of Consumer Business Group
Huawei has not previously appointed a chairman for its Consumer Business Group, thus, making Yu the inaugural appointee to this post. The purpose of this transition is to enable Yu to broaden his responsibilities within the company.
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The announcement of this transition was made within Huawei last week, as reported by news agency Reuters that quoted a source. He Gang, the chief operating officer of the Consumer Business Group, will assume the role of CEO. Yu, who has been CEO of Huawei's consumer unit, including its smartphone business, since 2012, oversaw a period of rapid growth, navigated challenges from US sanctions affecting the company's supply chain, and more recently witnessed a rebound in sales.
In his expanded role, Yu will oversee additional areas of the group, encompassing divisions related to smart devices and automotive components. Huawei has notably been actively involved in the electric vehicle (EV) sector in China of late. Insider sources suggest that the primary motive behind this change is to enable Richard to concentrate more effectively on the automotive solutions business, shifting focus away from the smartphone segment.
This scenario is not unprecedented -- Chinese handset maker Xiaomi's Lei Jun transitioned his attention from smartphones to electric vehicles (EVs) some time ago, leading to the remarkable success of the company's first car, the SU7.
To recall, in 2019, the US government imposed restrictions on Huawei's access to American technology, alleging national security risks, which Huawei refutes. Throughout this period, Yu has maintained a prominent position as one of Huawei's top executives. He has been a keynote speaker at major industry events like Consumer Electronics Show (CES) prior to the US restrictions and has collaborated with Chinese bloggers to promote new products and Huawei's innovation.