Like many top Chinese executives, Meng Wanzhou is a mysterious figure even in her home country, but the 46-year-old chief financial officer of Huawei Technologies had been widely tipped to one day take the helm of the tech giant her father founded,Reuters reports.
That was until her shock arrest in Canada at the request of U.S. authorities on Wednesday, a move that has entangled her in the protracted diplomatic tensions between Washington and Beijing. Her fate is now uncertain.
A source familiar with the matter told Reuters the arrest stems from Huawei Technologies Co Ltd’s [HWT.UL] alleged violation of U.S. sanctions on Iran. Similar allegations of breaching U.S. export restrictions led to rival Chinese telecoms equipment maker ZTE Corp being hit with a devastating ban and heavy fines this year.