Arm China finally boots rogue CEO that’s held it hostage with a ‘chop’ for years

Arm China has finally replaced renegade CEO Allen Wu nearly two years following Wu’s dismissal by the company’s board. How did he stick around so long, you ask? He had possession of the company’s seal stamp, called a ‘chop’—a centuries-old business practice likened to a more formal signature in the West—handing him the ability to effectively ignore what he was told by the board and continue doing what he liked.

Arm China is actually a joint venture between Arm, the UK-based chip designer owned by Japanese firm Softbank, and a Chinese investment firm called Hopu. Arm Ltd only owns a minority stake, but its involvement is key as one of the world’s largest chip designers.

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