Hasta La Gadget!

After leaving Dell to become chief executive of Lenovo, Bill Amelio is stepping down from his post as CEO. Amelio joined Lenovo to help with the integration of IBM’s PC business. The so-called “amicable” departure comes with the announcement of a quarterly loss three-times higher than expected. The US executive has been replaced by Lenovo’s Chairman Yang Yuanqing who will continue to live and work from Lenovo’s North Carolina office — Yang’s board leadership duties will now be assumed by Lenovo’s co-founder, Liu Chuanzhi. That puts Lenovo back into the hands of executive Chinese leadership as it attempts to recapture ground given up to HP and Acer in corporate sales. And with IT budgets slashed in a bid to keep corporations afloat, the executive changes are meant to accelerate Lenovo’s strategy to dominate China’s PC market, grow its business into emerging markets (specifically India and Russia), and expand upon its burgeoning sales to individual consumers. Seems like a reasonable move to us.

[Via Bloomberg]

Filed under: Desktops, Laptops

Lenovo’s American CEO steps down, Chinese leadership returns originally appeared on Engadget on Thu, 05 Feb 2009 04:53:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments

Things have been a little rocky (to say the very least) for Circuit City since it filed for bankruptcy protection back in November of last year, and now the acting president and CEO has sent out a letter informing a select few (or the world, as the case may be) of what exactly is going / could be going on. In short, the company has just recently “filed with the Bankruptcy Court a motion that seeks Court approval for a process that formally puts the company up for sale.” There’s a lot of fluff after that, but the long and short of it is this: a sale could be approved before an auction begins (and its working mighty hard to make sure that happens), but if that doesn’t go down by the 16th, the outfit will be ” forced to liquidate” soon. We’re not trying to be overly dramatic or anything, so we’ll encourage you to read the entire, soul-soothing email posted just after the break before going into full-on panic mode.

[Thanks, Anonymous]

Continue reading Circuit City CEO details bankruptcy proceedings, admits possibility of liquidation

Filed under: Displays, Misc. Gadgets, Home Entertainment

Circuit City CEO details bankruptcy proceedings, admits possibility of liquidation originally appeared on Engadget on Fri, 09 Jan 2009 13:28:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments