The Dutch Enterprise Chamber has ordered an investigation into alleged mismanagement at Nexperia, escalating a governance crisis that’s been simmering since last autumn. According to the ruling, there are well-founded reasons to doubt proper policy within the Nijmegen-based chipmaker.
The court previously suspended CEO Zhang “Wing” Xuezheng, appointed an independent director and transferred all shares to an independent administrator. Lawyers for Zhang had sought to lift those measures, but that request was rejected. Two investigators will be appointed, with the inquiry expected to take at least six months.
At the heart of the case is the suspicion that Zhang used Nexperia to benefit affiliated companies within its Chinese parent group, Wingtech. The court also wants the investigators to scrutinize the company’s dealings with the Dutch Ministry of Economic Affairs and other government bodies. In particular, they’ll examine strategic choices made in talks aimed at making Nexperia appear less Chinese and more European.
According to the court, the company’s immediate priority is stability. It called for decisive management that isn’t hindered by internal conflict between Nexperia’s various corporate entities and its shareholder. For now, the suspended CEO remains sidelined and the independent governance structure stays intact. In a stock filing, Wingtech said that it would “exhaust all legal means to restore the company’s full control over Nexperia.”
