Lenovo's American CEO steps down, Chinese leadership returns

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Lenovo's American CEO steps down, Chinese leadership returns
After leaving Dell to become chief executive of Lenovo, Bill Amelio is stepping down from his post as CEO. Amelio joined Lenovo to help with the integration of IBM's PC business. The so-called "amicable" departure comes with the announcement of a quarterly loss three-times higher than expected. The US executive has been replaced by Lenovo's Chairman Yang Yuanqing who will continue to live and work from Lenovo's North Carolina office -- Yang's board leadership duties will now be assumed by Lenovo's co-founder, Liu Chuanzhi. That puts Lenovo back into the hands of executive Chinese leadership as it attempts to recapture ground given up to HP and Acer in corporate sales. And with IT budgets slashed in a bid to keep corporations afloat, the executive changes are meant to accelerate Lenovo's strategy to dominate China's PC market, grow its business into emerging markets (specifically India and Russia), and expand upon its burgeoning sales to individual consumers. Seems like a reasonable move to us.

[Via Bloomberg]
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