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Tuesday May 03, 05:11
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Lenovo in the process of digesting IBM’s unit
(by Julia Jenson)
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Lenovo Group Ltd. has appointed International Business Machines Corp.’s executive Stephen Ward as chief executive after the completion of its takeover of IBM’s PC unit, where Ward served as general manager. Yang Yuanqing, Lenovo’s former chief executive, was named chairman. Liu Chuanzhi, the group’s founder and former chairman, is to become a non-executive director.
Now, after the completion of the purchase, Lenovo has made it to the world’s third-largest PC maker after Dell Inc. and Hewlett-Packard Co., grabbing IBM’s loss-making business unit that lost market share to the industry leaders.
Ward ``has good relationships in the U.S. market,’’ said Clement Wong, an analyst at E2 Capital in Hong Kong. One of the principal areas of his job will be customer retention.
The new Lenovo business faces the formidable challenge of integrating its 19,000-person workforce with outposts in over 160 countries. Cross-cultural and linguistic differences may also come into play: the group will have to integrate American and Chinese employees, while most Americans do not speak Mandarin.
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