Yahoo! Co-Founder and widely respected technology visionary joins at a time of rapid growth
Hong Kong, November 6, 2014 – Today, Lenovo (HKSE: 992) (ADR: LNVGY) announced the appointment of seasoned entrepreneur-investor, technology visionary, founder and former CEO of Yahoo!, Jerry Yang, as an independent non-executive director of the Company, effective today. With the appointment, Mr. Yang ceases to act as Board Observer of the Company.
“Jerry has made great contributions since becoming a board observer, and we are honored that now he will be a full member of our Board of Directors,” said Yuanqing Yang, Chairman and CEO, Lenovo Group. “Jerry’s proven track record as an entrepreneur, his unique global perspective, and his pioneering spirit as one of the great innovators of the Internet era are all qualities that we value at Lenovo. Jerry will remain an important voice in our boardroom as we continue to build Lenovo into a diverse, well respected global technology leader.”
Yang’s appointment to Lenovo’s truly global board – with directors hailing from the U.S., China, the United Kingdom, Japan, and Hong Kong – comes at a time when Lenovo’s business is increasingly global and diversified. Today, Lenovo holds the following market positions: #1 in PCs, with record share of nearly 20 percent; #3 in smartphones, with its just completed Motorola Mobility acquisition from Google; #3 in tablets with 4.9 percent market share; #1 in PC+Tablet; and #3 in x86 servers, with its just completed System x acquisition from IBM. Lenovo is now well positioned for the future, with three new growth engines: Enterprise, Mobile and Ecosystem/Cloud, all underpinned by a strong and growing PC business.
About Jerry Yang
Mr. Yang co-founded Yahoo! Inc. (NASDAQ YHOO) in April 1995 and served as its CEO from June 2007 to January 2009. He also served as a member of the board of directors of Yahoo! Inc. until January 2012. Mr. Yang served as a key member of the executive management team and focused on corporate strategy and technology vision. Mr. Yang was also instrumental in building strategic business partnerships, international joint ventures and recruiting key talent.
Mr. Yang is currently an independent director of Workday Inc. (NYSE: WDAY) and Alibaba Group Holding Limited (NYSE: BABA), companies whose shares are listed on the New York Stock Exchange. Mr. Yang previously served as a director of Yahoo Japan Corporation (a company listed on the Tokyo Stock Exchange and Osaka Securities Exchange)) and Alibaba Group Holding Ltd. until January 2012; and a director of Cisco Systems, Inc. (NASDAQ CSCO) from July 2000 to November 2012. Mr. Yang earned a Bachelor of Science and a Master of Science in electrical engineering from Stanford University and currently serves on the board of trustees of Stanford University.
ABOUT LENOVO
Lenovo (HKSE: 992) (ADR: LNVGY) is a $39 billion global Fortune 500 company and a leader in providing innovative consumer, commercial, and enterprise technology. Our portfolio of high-quality, secure products and services covers PCs (including the legendary Think and multimode YOGA brands), workstations, servers, storage, smart TVs and a family of mobile products like smartphones (including the Motorola brand), tablets and apps. Join us on LinkedIn, follow us on Facebook or Twitter (@Lenovo) or visit us at www.lenovo.com.
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