ZTE Chairman apologizes, promises to shake up leadership and pay the US a $1 billion fine - Creak News

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ZTE Chairman apologizes, promises to shake up leadership and pay the US a $1 billion fine

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A woman stands in front of a ZTE company logo during the company's 15th anniversary celebration in Beijing in this April 18, 2013 file photo. REUTERS/Barry Huang Thomson Reuters

HONG KONG (Reuters) - The chairman of China's ZTE Corp apologized to staff and customers on Friday after the technology firm agreed to pay a $1 billion fine to the United States to end a crippling ban that had brought the firm to its knees.

China's No. 2 telecoms equipment maker also agreed on Thursday to overhaul its leadership in exchange for the lifting of a ban on buying parts from U.S. suppliers.

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