Lenovo Announces Significant Changes in Board Compositions and Committees
John Thornton Appointed as Lead Independent Director
Hong Kong, February 21, 2025 – Lenovo Group Limited (HKSE: 992) (ADR: LNVGY) has unveiled a series of updates concerning its Board of Directors and associated committees. These changes are part of Lenovo’s strategic efforts to enhance its governance and align with best practices.
The company has officially appointed John Thornton as the Lead Independent Director of its board. Thornton, who has been serving as an independent non-executive director and a member of the Nomination and Governance Committee, will immediately step into this new role. His appointment underlines Lenovo’s commitment to maintaining strong independent oversight and fostering an environment of robust corporate governance.
Furthermore, Gordon Orr has been designated as the chairman of the Compensation Committee. Orr, also an independent non-executive director, has contributed as a member of both the Compensation and Audit Committees. This new role will see him leading efforts to align executive compensation with Lenovo’s long-term strategy and performance.
These appointments come on the heels of resignations from William (Bill) Grabe and Tudor Brown, both of whom have stepped down as independent non-executive directors effective February 21, 2025. Grabe, who served on the Lenovo board for 19 years and held the position of lead independent director for over a decade, and Brown, with over 12 years of service, have been instrumental in guiding Lenovo’s strategic direction. Their departures are consistent with corporate governance principles that advocate for periodic board refreshment and align with guidelines from the Hong Kong Stock Exchange regarding the tenure of independent non-executive directors.
In addition to these changes, Lenovo has announced the appointment of two new non-executive directors who will assume their roles on April 1, 2025. WaiMing Wong, currently serving as Lenovo’s Chief Financial Officer, and Laura Quatela, the Chief Legal and Corporate Responsibility Officer, will transition to the board as non-executive directors following their retirement from management positions at the end of the fiscal year on March 31, 2025. Wong will join the Audit Committee, while Quatela will become part of the Nomination and Governance Committee.
Their departures from their current roles will see Winston Cheng taking over as Chief Financial Officer and David Carroll assuming the position of Chief Legal and Corporate Responsibility Officer. Cheng, who joined Lenovo as Senior Vice President and Deputy CFO in April 2024, and Carroll, who became a part of Lenovo through the Motorola acquisition in 2014, are well-positioned to continue Lenovo’s trajectory of growth and innovation. For more detailed information regarding their appointments, click here.
Yuanqing Yang, Lenovo’s Chairman and CEO, remarked on these changes, expressing gratitude towards Grabe, Brown, Wong, and Quatela for their invaluable contributions to Lenovo over the years. “Their dedication and efforts have been instrumental in shaping Lenovo’s success, and we wish them well in their future endeavors,” Yang stated. He also extended a warm welcome to Thornton, Orr, Wong, and Quatela in their new roles, highlighting the depth of experience and insight they bring, which will be vital assets to Lenovo’s future.
About Lenovo
Lenovo stands as a prominent global technology leader with annual revenues reaching US$57 billion. It ranks #248 in the Fortune Global 500 and serves an expansive customer base spanning 180 markets. With a vision to deliver Smarter Technology for All, Lenovo has established itself as the world’s leading PC manufacturer. The company’s portfolio includes AI-enabled and AI-optimized devices such as PCs, workstations, smartphones, and tablets, as well as infrastructure solutions comprising servers, storage, edge computing, high-performance computing, and software-defined infrastructure.
Lenovo consistently invests in groundbreaking innovation, striving to build a more equitable, trustworthy, and smarter future for everyone. For more information on Lenovo’s offerings and innovations, visit Lenovo’s official website and explore the latest updates on their StoryHub.
This announcement marks a significant step in Lenovo’s evolution, reflecting its dedication to corporate governance and its strategic vision. The company’s focus on bringing experienced leadership to its board and committees is expected to further its mission of advancing technological innovation and delivering value to its stakeholders globally.
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