Overview
- Nexperia confirms an export ban in China covering certain finished components and semi-finished products has been in place since October 4, and says it is engaging with authorities to lift the restrictions.
- The Dutch Enterprise Chamber removed CEO Zhang Xuezheng, placed most shares under an independent trustee, and appointed former NXP Netherlands chief Guido Dierick as a non-executive director.
- Court findings cite alleged conflicts of interest, including a $200 million wafer order from WSS, a Zhang-linked firm, far exceeding Nexperia’s needs, and the reassignment of key banking authorities to inexperienced individuals.
- The government’s intervention under the Goods Availability Act empowers an independent director with a decisive vote to block or reverse decisions deemed harmful to European supply resilience.
- Wingtech denounced the Dutch move, its shares fell sharply, China’s state media warned of consequences, and Nexperia says daily production continues as legal options remain open.