China’s Wingtech faces setback as Dutch court keeps Nexperia CEO suspended, orders probe
Investigation into firm’s governance could last six months, with one analyst warning of damage to bilateral ties
“The Enterprise Chamber … acknowledges that Nexperia faced complex dilemmas due to geopolitical developments. However, this does not mean that an investigation should be omitted in this case,” the court said in its ruling, published on Wednesday.
It said it had decided to maintain Zhang’s suspension to allow the company to exercise firm leadership free from internal disputes and shareholder conflict, judging that Nexperia’s immediate priorities would be restoring stability, repairing internal relationships, securing its supply chain and ensuring reliable deliveries to customers.
The court-appointed temporary director would remain in place, and nearly all shares would continue to be held by a designated administrator, it added.
The Enterprise Chamber – a special Dutch court handling corporate disputes – would soon appoint two investigators to examine Nexperia’s governance from the end of 2023, as well as recent supply chain disruptions and the de facto split with Nexperia China since last October, according to the ruling.