Computer maker Lenovo Group announced yesterday that it is replacing its American chief executive and refocusing on its home market, the Wall Street Journal reported. Chairman Yang Yuanqing will replace American Bill Amelio, who resigned at the end of his three-year contract. Liu Chuanzhi, who helped found Lenovo’s predecessor company and was Lenovo chairman until 2005, will replace Yang as non-executive chairman. Liu said that the management will refocus on China and that the management changes were driven by the global economic crisis. The hiring of Amelio in 2005, shortly after Lenovo purchased IBM’s PC unit, was seen as a sign of Lenovo’s desire to internationalize itself. Lenovo reported a fourth quarter loss of US$97 million, down from a net profit of US$172 the previous year. Revenue dropped 20% to US$3.59 billion, from US$4.49 billion a year earlier.
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