OREANDA-NEWS. September 28, 2011. Lenovo Group, the world’s third-largest PC manufacturer, today announced that Nobuyuki Idei is joining the company’s Board of Directors as an independent non-executive director. Mr. Idei is the founder and chief executive officer of Quantum Leaps Corporation and former chairman and group chief executive officer of Sony Corp. He will replace outgoing non-executive director James Coulter.

Coulter is a co-founder of TPG Capital, which was a significant initial investor in the Company at the time of acquisition of the IBM Personal Computing Division in 2005 and which, last year, divested itself of its remaining holdings in the Company.

The appointment of Mr. Idei strengthens Lenovo’s strategic understanding of the market in Japan, where following the creation of its joint venture with NEC PC Lenovo is now the number one PC company. Even more, the move reflects the company’s increasing focus on expanding its business into high growth consumer markets, driving exceptional product innovation and building a powerful global brand.

“On behalf of the entire Board and management of the company, I welcome Mr. Idei to our leadership team, and I am extremely confident that his unmatched experience, proven expertise and history of leadership at the highest levels of global business will deliver direct, positive benefit to Lenovo’s strategic development and long-term success,” said Liu Chuanzhi, Chairman of Lenovo Group. “As we welcome Mr. Idei, I also wish to thank Jim Coulter for his years of dedicated service and his contributions to Lenovo’s growth as a significant company on the global business landscape.”

Lenovo has strong momentum in the marketplace. According to IDC, Lenovo now ranks number 3 in global PC market share. Lenovo is now the number one PC company in China; the number one PC company in Japan (through a joint venture with NEC); the number one PC company in all global emerging markets (including China); and the number two PC commercial notebook company in the world. The company has been the fastest growing major PC company for 7 quarters, and is now expanding into new high growth areas like the mobile Internet (with recent global tablet launches). Last year, Lenovo reported record revenue of USD 21 billion.

“Because of our great momentum, optimistic outlook and strong strategic positioning for the future, Lenovo is able to attract the top talent from around the world to our company,” said Lenovo Chief Executive Officer Yang Yuanqing. “Mr. Idei is a legendary technology innovator and an icon in the consumer electronics space. We believe his knowledge and passion will help Lenovo achieve its long-term goals.”

Regarding Coulter, Yang added, “Jim Coulter has been a tremendous asset to Lenovo, and we would not have our strong momentum and our deep understanding of the global business landscape without his input and strategic counsel. We are most grateful for Jim’s service.”

Coulter confirmed that he has no disagreement with the Board and there is no matter in relation to his resignation that needs to be brought to the attention of the shareholders of the Company.

Added Nubuyuki Idei: “It is an honor to be asked to join the board of a company that I believe is not only demonstrating its ability to excel in a highly competitive worldwide marketplace, but is also truly helping define what it means to be a next generation global company. Lenovo has tremendous balance in its products, performance, people and leadership. It is doing new things and blazing a trail that others will follow. The challenge of creating a new kind of global company and bringing even more amazing technologies to customers around the world is one that truly excites me.”