Chinese technology company Xiaomi showed its strong stance against corruption by firing two important names in its international business. In this respect reports Published by GizmoChina.
According to GizmoChina, Chen Bingxu, the former general manager of the Latin America region, was caught accepting bribes, receiving expensive gifts, and attending lavish entertainments financed by business partners. Another executive, Owen, the former managing director of Western Europe, was accused of cheating in outsourcing deals involving significant financial investments.
As a result of the investigation, Chen Bingxu was fired, stripped of his stock options, and reportedly required to compensate the company for its financial losses. In Owen’s case, the company not only fired him, but also filed criminal charges against him.
Despite these events, Xiaomi continues to successfully develop its business internationally. For example, according to Canalys data, the company shipped 5.3 million devices to the Latin American market in the first quarter of 2024, occupying 15.3% of the market in the region.
In this way, Xiaomi emphasizes its commitment to ethical standards and its intolerance towards all forms of corruption and abuse, even if it concerns important people in its organization.
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Source: Gazeta
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