https://wccftech.com/arm-faces-a-boardroom-revolt-as-it-seeks-to-remove-the-ceo-of-its-chinese-joint-venture/

ARM, the British silicon ship designer backed by SoftBank (TYO:9984), is currently embroiled in a nail-biting boardroom conflict, equipped with an equally appropriate dramatic flareup.

To wit, ARM issued a statement on Wednesday, disclosing that the board of its Chinese joint venture – ARM China – has approved the removal of the incumbent chairman and CEO, Allen Wu. Bear in mind that the British chip designer was purchased by the Japanese behemoth, SoftBank, in 2016 for £24.3 billion. ARM currently holds a 49 percent stake in its Chinese JV, with a consortium of investors led by the Chinese equity fund, Hopu Investment, retaining the residual 51 percent stake.