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 [转帖]Lenovo Brings Back Chinese Team to US as It Swings to Loss |
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wanderer
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作者：wanderer 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
BEIJING -- Lenovo Group Ltd. said it is replacing its American chief executive with Chairman Yang Yuanqing and bringing back its co-founder to head the board, putting the struggling personal computer maker firmly back in the hands of the Chinese executives who established it.
Mr. Yang took over as CEO from Bill Amelio, who stepped down at the end of his three-year contract with Lenovo, the company said Thursday, as it also reported a net loss in its fiscal third quarter. Mr. Amelio, a former Dell Inc. executive, joined Lenovo several months after its 2005 acquisition of the PC business of International Business Machines Corp. – a landmark deal that created one of China's first true multinational companies and vaulted Lenovo into the upper ranks of the global PC industry.
Replacing Mr. Yang, as non-executive chairman, will be Liu Chuanzhi, a current Lenovo board member who helped start its predecessor company 25 years ago and was Lenovo's chairman until 2005. The management changes took effect Thursday, Lenovo said.
In an interview, Mr. Liu said the changes were driven by the worsening global economic crisis, which has had an especially severe impact on Lenovo's big corporate customers in developed markets like the U.S. He said the new management team plans to focus more on Lenovo's core market, China, where it remains dominant.
Since the IBM acquisition, "Lenovo has focused in the international markets on IBM's products and customers, which are mainly large corporate customers," Mr. Liu said. "But in the current economic crisis, corporate customers have been the most affected. So right now, we should emphasize China and emerging markets, and consumer customers."
Lenovo feels its longstanding approach in China – targeting individual consumers and small businesses with a relatively narrow product line that keeps costs low – can be used effectively to expand in other emerging markets like India and Russia, which it expects to keep growing.
Mr. Amelio's hiring more than three years ago was a major departure for corporate China, where foreigners almost never hold senior positions, let alone one of the top jobs. His tenure was seen as a commitment by Lenovo to embrace its new international identity.
The changes at Lenovo in many ways represent a return to the company's roots. But Mr. Liu emphasized that Lenovo remains "firmly committed" to being an international company. Executives said Mr. Yang, who previously served as CEO from 2001 to 2004, will remain based at Lenovo's office in North Carolina, where he has lived for several years. As part of the reshuffle, Lenovo also promoted Rory Read, an IBM veteran who is now a Lenovo senior vice president, to president and chief operating officer, a new position.
Thursday's announcement of the management change came as Lenovo reported a net loss of $97 million for the quarter ended Dec. 31, down from a profit of $172 million a year earlier. That translated to a loss of 1.09 U.S. cents a share, or 8.5 Hong Kong cents, in the latest quarter, from a profit of 1.76 U.S. cents a share in the year-ago period. Shipments of PCs in the quarter fell 5% globally, with 7% declines in China, while revenue dropped 20% to $3.59 billion, from $4.49 billion in the year-earlier period.
Lenovo warned of the impending loss last month, and said that it planned to cut 11% of its work force, or about 2,500 jobs, and reduce executive pay in an effort to return to profitability.
The 64-year-old Mr. Liu, one of China's most prominent technology executives, helped start the company that eventually became Lenovo. In 1984, he and a group of colleagues from China's Institute of Computing Technology used government funding of less than $25,000 to establish what eventually became Legend Holdings Ltd. Legend, where Mr. Liu is currently vice chairman, remains Lenovo's biggest shareholder, with a stake of about 45%.
Mr. Yang, 44 years old, joined Legend in 1989, and became CEO in 2001. He, along with Mr. Liu, helped build the company's Chinese business, managed its international rebranding as Lenovo in 2003, and helped engineer the IBM acquisition in 2005. That experience gives Mr. Yang "unique leadership ability" where Lenovo now wants to focus, Mr. Liu said.
Lenovo executives took pains to emphasize that the departure of Mr. Amelio was amicable, praising the 51-year-old for his successes and noting that he will stay on as an advisor to the company until September. Mr. Liu said that Mr. Amelio had already adopted many of the strategic initiatives the company now wants to emphasize, but that the deteriorating global environment required more urgent action. "We originally wanted to move in this direction, but the sudden change in the circumstances means that we need to move faster," he said. Mr. Amelio, in a Lenovo statement announcing the changes, said he is "pleased with what we have accomplished."
Mr. Amelio was tasked with an extraordinarily complicated transition at Lenovo, integrating two companies that had vastly different cultures, languages and pay structures. While the effort was successful in many respects, Lenovo has struggled to maintain its traction in international markets against bigger rivals like Hewlett-Packard Co. as well as fast-growing Acer Inc. of Taiwan. The IBM business's focus on big corporate customers made it hard to capitalize on the growth in consumer sales that dominated the PC industry in recent years.
In the fourth quarter of 2008, Lenovo's share of global PC unit sales fell to 7.2%, from 7.5% a year earlier. Acer's share in the same period jumped to 11.8% from 9.4% the year before.
Mr. Liu also stressed that the management changes don't mean that Lenovo is moving away from being an international company. "Lenovo's goal in acquiring IBM's PC business was to make this an international company," he said. "The approach we're taking now is aimed at making sure we can grow better in this environment, but there is no change in our goal."
Since the IBM deal, Lenovo has explored other, smaller acquisition possibilities without fruition. Nevertheless, mergers and acquisitions are "still an important part of our development strategy," Mr. Liu said. "We will be looking continuously, but it's too early to say when or what time we would do anything."
作者：wanderer 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
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 [转帖]Lenovo Brings Back Chinese Team to US as It Swings to Loss -- wanderer - (6482 Byte) 2009-2-05 周四, 18:39 (1720 reads)
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