Beijing: The Chairman of China's largest PC maker Lenovo, Liu Chuanzhi, has stepped down and he will be succeeded by CEO Yang Yuanqing, the group said Wednesday.
Liu will become honorary chairman of Lenovo and Yang will assume the dual role of chairman and CEO, the group said in a statement.
In a separate statement, Lenovo announced that it has become the world's second largest PC vendor with a record market share of 13.5 percent in its second fiscal quarter report, Xinhua reported.
The Hong Kong-listed computer maker said in the three-month period ending September 30, its net profit jumped 87.9 percent to USD 144 million.
First Published: Wednesday, November 2, 2011, 22:13