AMSTERDAM, Feb 11 (Reuters) – A Dutch court on Wednesday ordered an investigation into mismanagement at chipmaker Nexperia BV and upheld an October decision to suspend former CEO Zhang Xuezheng, the founder of Nexperia’s Chinese parent Wingtech, saying the company needs stability. The decision leaves control of the company in the hands of the European […]
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Dutch court orders investigation into Nexperia, upholds previous decisions including Chinese CEO suspension
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AMSTERDAM, Feb 11 (Reuters) – A Dutch court on Wednesday ordered an investigation into mismanagement at chipmaker Nexperia BV and upheld an October decision to suspend former CEO Zhang Xuezheng, the founder of Nexperia’s Chinese parent Wingtech, saying the company needs stability.
The decision leaves control of the company in the hands of the European team that has overseen it since a Dutch state intervention at the company led to a conflict over the firm that has disrupted automotive industry supply lines around the world.
(Reporting by Toby Sterling, Editing by Louise Heavens)