Wednesday, January 07, 2009

Lenovo Decides on Rumored Executive, Structural Changes, Says Report

PC and consumer electronics maker Lenovo (992.HK) settled on a restructuring plan on Tuesday that includes the rumored merger of Lenovo's Asia Pacific operations with its Greater China and Russia divisions, reports Oriental Morning Post. The new division will be headed by Lenovo Greater China president Chen Shaopeng, while Lenovo Asia Pacific president David D. Miller will resign and Chen's former role will be filled by Lenovo Greater China vice president Xia Li, said the report. Other senior management positions are expected to remain unchanged until April, said unnamed sources. The sources said Lenovo plans to announce details of the restructuring on Thursday.

Lenovo suspended trading of its shares on the Hong Kong Stock Exchange at 9:30 a.m. on Wednesday pending a price-sensitive announcement.

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