Yang Yuanqing is the new CEO of Lenovo

Yang Yuanqing is the new CEO of Lenovo

Lenovo Group has posted a net loss of $97 million for the quarter ended Dec. 31.

This is down from profits of $172 million during the same period a year ago.

The company has also now appointed Yang Yuanqing as their new CEO. He takes over from William Amelio, who had come to the end of his three-year contract.

Yuanqing spoke about the company’s performance: “In the past quarter, same as many other companies, Lenovo was deeply impacted by the global economic turmoil.”

Amelio had this to say: “Over the past three years, we’ve implemented a successful international strategy, and Lenovo has joined the ranks of the top global PC companies. Our brand is recognized around the world, we have developed a solid reputation for quality and innovation, and our customer service is second to none. I’m pleased with what we have accomplished as a team.”