Nexperia’s Chinese owner has accused the chipmaker’s European managers of engineering a Dutch government intervention to save their jobs after underperformance and the loss of $10mn in gold.
The hearing at the Amsterdam court of appeal on Wednesday was held to determine whether there was a need to launch an investigation into allegations of mismanagement at Nexperia. The Dutch government temporarily seized control of Netherlands based Nexperia in September, warning of a threat to chip supply in Europe after alleging governance lapses at the company.
Nexperia then obtained a court order to oust its chief executive Zhang Xuezheng, also the main shareholder of Chinese owner Wingtech, claiming he was mismanaging the company and starting to move most activities to China. That subsequent split between its European head office and Chinese operations, caused widespread disruption in global car production.