Imagination Technologies boss steps down after failed Chinese coup 

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Imagination Technologies boss Ron Black steps down after failed Chinese coup

By Daily Mail City & Finance Reporter

Published: | Updated:

Ron Black (pictured) has been replaced as chief exec of Imagination Technologies by Ray Bingham

Imagination Technologies’s boss left the company yesterday after Chinese investors made a failed bid to seize control.

Ron Black has been replaced as chief executive of the British chip maker by Ray Bingham, who was executive chairman and is also a partner at Imagination’s parent company Canyon Bridge.

The shake-up comes after China Reform, Canyon Bridge’s biggest investor, sought to appoint four directors to Imagination’s board, which would have effectively handed it control. 

China Reform, which has links to the regime in Beijing, reportedly wanted to relocate the company and its intellectual property to China but cancelled the meeting after an outcry from MPs. 

The attempted boardroom coup has triggered a probe by several government departments and spy agency GCHQ.

Imagination yesterday said it planned to ramp up investment in the UK.

 

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