Yahoo co-founder Jerry Yang joins Lenovo board as observer
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)
- Tweet this
- Share this
- Digg this
- Alabama man claims penis was amputated by mistake
- UPDATE 7-French warplanes search Mali desert for crashed Air Algerie plane
- UPDATE 2-U.S. says Russia firing artillery over border at Ukraine military
- UPDATE 8-At least 15 killed by shelling of Gaza school; toll exceeds 760
- Gunmen said to chase investigators from MH17 crash site
Amazon.com Inc posted a much larger-than-expected loss in the second quarter as it continues its rapid pace of investment in new businesses such as digital content and consumer electronics. Full Article
Google under fire from regulators over response to EU privacy ruling. Full Article
Flaws could expose users of privacy-protecting software, researchers say. Full Article
China regulator determines Qualcomm has monopoly - state-run newspaper. Full Article