Changing back the guard
Chinese system builder Lenovo, the fourth biggest PC maker in the world, has reported losses, including restructuring, of $97 million.
As an apparent consequence of this, CEO William Amelio is being replaced by current chairman Yang Yuanqing. The chair is being reclaimed by Lenovo founder, Liu Chuanzhi.
"In the past quarter, same as many other companies, Lenovo was deeply impacted by the global economic turmoil," said Yang Yuanqing. "We have taken actions to ensure that in an uncertain economy, our business operates as efficiently and effectively as possible, and continues to grow in the future. "
The reinstatement of Lenovo's old guard could be viewed as a regressive step. Liu Chuanzhi offered clarification of the thinking behind the move. "Lenovo has grown successfully on the international stage, but at this important time, we want to pay particular attention to our China business as it represents the foundation of our global business and growth strategy," he said.
"Over the past three years, we've implemented a successful international strategy and Lenovo has joined the ranks of the top global PC companies," said Amelio. "Our brand is recognized around the world, we have developed a solid reputation for quality and innovation, and our customer service is second to none. I'm pleased with what we have accomplished as a team."
Lenovo has also created the new role of president and chief operating officer and has internally promoted Rory Read to the role.
