China's Huawei appoints chairman as acting CFO after Meng Wanzhou's arrest

China's technology giant Huawei Technologies on Friday appointed Chairman Liang Hua as acting chief financial officer (CFO) following the arrest of their present CFO Meng Wanzhou in Canada, news agency Reuters reported.

Huawei CFO Meng Wanzhou, 46, who is also the daughter of the company founder, was arrested on December 1 -- same day when US Presidents Donald Trump and Chinese President Xi Jinping made a truce on trade war during G20 summit in Argentina.

She was arrested at the request of the United States and was revealed by Canadian authorities late on Wednesday. The arrest was part of a US investigation into an alleged scheme to use the global banking system to evade US sanctions against Iran

Also read: What you need to know about Chinese tech giant Huawei

She will appear in Vancouver court on Friday for a bail hearing as she awaits possible extradition to the United States.

With China demanding the release of Meng, Canadian Prime Minister Justin Trudeau distanced Canada from the arrest saying that the officers who arrested Meng while she was changing planes in Vancouver had acted on their own.

"I can assure everyone that we are a country (with) an independent judiciary," Trudeau told a tech conference in Montreal. "And they took this decision without any political involvement or interference."

Meanwhile, China has said that Meng, the daughter of Huawei founder Ren Zhengfei, a former engineer in China's People's Liberation Army, had violated no laws in either Canada or the United States.

Huawei has also denied any wrongdoing saying that it was compliant with "all applicable laws and regulations where it operates."

Huawei's affordable smartphones have made strong inroads in the developing world, but the company has faced repeated setbacks in major Western economies over security concerns.

(With inputs from news agencies)