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China tech

Lenovo founder Liu Chuanzhi set to retire

75-year-old to bow out after more than 30 years in charge of PC maker

Lenovo founder Liu Chuanzhi is to step down as chairman of PC maker's parent company Legend Holding.    © Reuters

BEIJING -- Liu Chuanzhi, the 75-year-old entrepreneur and founder of Lenovo, will step down as chairman of Legend Holdings, the sole controlling shareholder of the Chinese computer manufacturer, by the end of this week, according to a report by Beijing News.

Hong Kong-listed Legend Holdings will officially announce the news on Wednesday after the Chinese markets close. According to multiple local media outlets, 50-year-old Ning Min, currently senior vice president and chief financial officer at the holding company, will take up Liu's position as chairman.

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