Yahoo co-founder Jerry Yang joins Lenovo board as observer

HONG KONG Wed Feb 20, 2013 6:36pm IST

Co-founder of Yahoo Jerry Yang attends the Allen & Co Media Conference in Sun Valley, Idaho July 13, 2012. REUTERS/Jim Urquhart/Files

Co-founder of Yahoo Jerry Yang attends the Allen & Co Media Conference in Sun Valley, Idaho July 13, 2012.

Credit: Reuters/Jim Urquhart/Files

Related Topics

Stocks

   

HONG KONG (Reuters) - Lenovo Group said Yahoo! co-founder Jerry Yang is to join its board as an observer, as the world's No. 2 maker of PCs expands its mobile business to tap global demand for smartphones and tablets.

Yang, who co-founded Yahoo! in April 1995 and served as chief executive from June 2007 to January 2009, will not be able to vote or have any of the other rights of a director, Lenovo said on Wednesday.

The Hong Kong-listed company will pay Yang $61,875 per year and offer equity rights with a value of $135,000 in return for attending board meetings and providing views.

Yang, 44, resigned from Yahoo's board last year when he also stepped down from the boards of Alibaba Group Holding and Yahoo! Japan.

Lenovo, the second-biggest smartphone vendor in China, is stepping up its expansion in the business.

In its October-to-December third quarter, Lenovo shipped 9.4 million phones, including 9 million smartphones, mainly in China where its smartphone business was profitable for the first time.

(Reporting By Anne Marie Roantree; Editing by Dan Lalor)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Rising Star

Reuters Showcase

Cybercrime

Cybercrime

Hacker sentenced to 21 months in U.S. prison for $15 mln scheme.  Full Article 

Printed Instruments

Printed Instruments

3D printed instruments make sweet music in Sweden.  Video 

Tweet Debut

Tweet Debut

Britain's Queen Elizabeth sends her first tweet.  Full Article 

Artificial Intelligence

Artificial Intelligence

Google bolsters artificial intelligence efforts, partners with Oxford.  Full Article 

Fighting For Workers

Fighting For Workers

Ralph Nader urges Apple to reduce buybacks, improve wages - WSJ.  Full Article 

Future Uncertainty

Future Uncertainty

Ericsson flags North America slowdown.  Full Article 

Microsoft Earnings

Microsoft Earnings

Microsoft sales beat Street hopes, cloud profits up.  Full Article 

Looking To Sell

Looking To Sell

HP seeking buyers for corporate-networking business in China - WSJ.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage