The Chinese owners of Imagination Technologies have drafted in a microchip industry veteran from a Beijing-backed technology conglomerate, after buying the British company last year.
Leo Li will be confirmed as the Hertfordshire-based company’s chief executive on Tuesday, it is understood. He replaces Andrew Heath, the former Rolls-Royce executive who took charge in 2016.
Imagination was one of Britain’s biggest listed technology companies but shares plunged last year when it announced it had lost a deal to supply graphics chip designs to Apple.
The iPhone giant accounted for half of Imagination’s revenues and the uncertainty generated by losing the deal forced the company to be sold to Canyon...