U.K. Chipmaker Arm in Boardroom Battle Over China Venture Control

SoftBank Group-backed Arm Ltd. clashed publicly with its Chinese joint venture over the unit’s leadership, shedding rare light on a power spat within the British computer chip designer.

In a statement Wednesday, Arm said the board of its China joint venture Arm China agreed to remove Chairman and Chief Executive Officer Allen Wu. Arm owns 49% of the China venture, and investors led by Chinese equity fund Hopu Investment hold the rest.