Business

UTStarcom To Soon Release New Business Strategy

Following the departure of its former CEO Wu Ying, UTStarcom (UTSI) China has begun to adjust its business in China.

Lu Hongliang, the successor of Wu, has reportedly said in an internal email that in order to enlarge market share, UTStarcom would change the position of some executives.

According to local media, as Le Zhenwu, senior vice president, was responsible for the company's marketing service and has also left the company, his duties will be taken over by Du Yukuan, vice president in charge of technology support. In addition, Lu expressed his dissatisfaction with several of UTStarcom's businesses in China at an employee meeting and disclosed that a plan regarding adjustment would come out by the end of June.

According to the agreement signed with UTStarcom, Wu Ying will get 12 months' salary and a whole-year bonus, including stocks and futures in return for his departure.

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