Liu Chuanzhi, who 30 years ago founded a company in a Beijing workshop that would go on to become global PC-makerLenovo, will step down from his role as chairman of Lenovo’s parent this week, reported Caixin.
Now 75, one of modern China’s earliest high-tech entrepreneurs and a man sometimes called “China’s godfather of entrepreneurs,” will hand over the reins of the company to a younger generation as he moves into a more advisory role, said Caixin sources. He will resign as chairman and executive director of Lenovo Group’s parent Legend Holdings Corp.
As part of the transition, Zhu Linan, 57, will also resign as Legend Holdings president, but will continue as a director of the company. Zhu will also continue as chairman of Legend Holdings’ unit Legend Capital, but won’t hold any other offices. The chairman’s job at Legend Holdings will be taken over by Ning Min, who has held a series of jobs since joining the company in 1991, including senior vice president.