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Former Yahoo CEO Jerry Yang joins Lenovo's board

As an observer
Thu Feb 21 2013, 12:52
Former Yahoo CEO Jerry Yang

FORMER YAHOO CEO Jerry Yang has been appointed to Lenovo's board of directors, where he will act as an observer.

Yang co-founded Yahoo and rebuffed Microsoft's offer to buy the company, only to see Yahoo fall further behind Google. Now Yang has been offered a position on Lenovo's board, though the firm said he will act as an observer.

Yang's appointment comes after he quit Yahoo's board in 2012 and what is generally seen as a disastrous two-year run at being Yahoo CEO's alongside his attempts to buy back the firm. His role at Lenovo isn't completely clear other than that he will be expected to impart his wisdom to other board members.

"Jerry's [Yang] appointment as an observer to our board furthers Lenovo's reputation as a transparent international company," said Lenovo CEO Yang Yuanqing in a statement.

"As Lenovo continues to build on its momentum and establish itself as a global technology leader, Jerry's perspective, experience and proven entrepreneurial spirit will help us continue to drive growth and expand our business."

While Yang's expected contribution to Lenovo isn't clear, he will be paid $61,875 in cash and receive around $135,000 worth of shares in Lenovo. Lenovo confirmed that Yang's seat on the board won't confer any voting rights or management rights in the firm.

Lenovo might have cracked the PC market, managing to see sales grow while its main competitors are reporting significant declines in revenue, but the firm is looking to push into the smartphone and tablet markets. Quite where Yang fits into that isn't clear, but Lenovo is certainly making sure its top table is staffed with big names. µ

 

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