Lenovo’s American CEO Quits And Chinese Leadership Returns After Q3 Loss Posted

Lenovo, The maker of the ThinkPad laptop has announced that William Amelio has decied to step down as CEO. Taking his place will be Chairman Yang Yuanqing, while founder Liu Chuanzhi returns as chairman effective today. I guess losing $96.7 million in the third quarter was enough for him to be shown the door decide to leave. Of course the company doesn’t have the market share it once had as it is now behind HP and Acer in that department. So that could have been a contributing factor as well. Either way, I think it will be rough sailing for them for the next little while.

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