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Lenovo CFO Retires ‘Effective Today’; Board Member to Take Her Place

Posted May 23, 2007

— Mary Ma, chief financial officer of Lenovo Group and one of the more visible officers in the company, retired from the CFO post “effective today,” the company announced.

Ma will take on a role as non-executive vice chairman.

Replacing here is Wong Wai Ming, who is a member of Lenovo’s board. He stepped down from his role as chairman of the audit committee and will assume his CFO duties as of July 15, the company said.

Wong also is chairman and chief executive officer of Roly International Holdings.

Ma has been a widely quoted executive about Lenovo since the firm purchased IBM’s personal computer division in 2005.

“It has been a delight and honor to be part of Lenovo’s many successes,” Ma said inn a statement. “It was a difficult decision to end my day-to-day involvement with the company. Lenovo has an extremely talented and committed executive leadership team in place with the strategic vision necessary to lead Lenovo into the future. My retirement does not diminish my enthusiasm for and commitment to this company. I am extremely proud of our accomplishments and look forward to many more.”

Ma will also serve as an advisor to Yang Yuanging, Lenovo’s chairman, and CEO William Amelio. She also will join the board’s audit committee after July 15. Ma joined Lenovo in 1990, was named to the board in 1997, and was selected as CFO in 2000.

“Mary leaves us with a tremendous legacy,” Yang said in a statement. “For 17 years, she has made countless contributions to Lenovo’s success, and has played an important role in our transformation into one of the world’s largest PC manufacturers,.”

Wong has more than 15 years of experience in investment banking.

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