Chen Shaopeng
China’s Lenovo, the world’s fourth largest personal computer maker, suspended trading on the Hong Kong stock market, amid speculation of an imminent restructuring.
Caijing magazine, which has a tendency to get it right, said the company was expected to restructure its operations due to weak performance amid global slowdown. In fact, in many places the word has already been unofficially given and thousands expect to be retrenched.
The web site reported that it was understood the company would merge its Asia Pacific operations with its Greater China and Russia operations.
Chen Shaopeng, Lenovo’s president for the greater China region, was expected to be appointed head of the new division, according to the website.
Lenovo public relations manager Chen Ji said he would not comment on the reports.
Lenovo reported weaker than expected results in the fourth quarter of 2008, with net income growth failing to meet analysts’ expectations.
Source: China.com and China Digital Times