DBT Bureau
Pune, 23 Feb 2025
Lenovo Group Limited announced several changes in Board compositions and Board Committees.
John Thornton, currently an independent non-executive director and a member of the Nomination and Governance Committee of the Company, has been appointed as the Lead Independent Director of the Lenovo board with immediate effect.
Gordon Orr, an independent non-executive director and a member of the Compensation Committee and the Audit Committee, has been appointed as the chairman of the Compensation Committee of the Company with immediate effect.
Both appointments follow the resignations of independent non-executive directors William (Bill) Grabe and Tudor Brown with effect from February 21, 2025. Bill served on the Lenovo board for 19 years, and as lead independent director for over 11 years, and Tudor served on the board for over 12 years. The resignations are in line with the Company’s corporate governance principles and the Hong Kong Stock Exchange’s guidance on corporate governance practices for INED tenures.
Lenovo is also announcing the appointment of two new non-executive directors effective April 1, 2025. WaiMing Wong, currently Chief Financial Officer of Lenovo, and Laura Quatela, currently Chief Legal and Corporate Responsibility Officer of Lenovo, will both retire from their management positions at the end of the fiscal year on March 31, 2025. Effective April 1, 2025, they are appointed to the Lenovo Board as non-executive directors. In addition, WaiMing will serve as a member of the Audit Committee and Laura will serve as a member of the Nomination and Governance Committee.
Following WaiMing and Laura’s retirements from their management positions, they will be succeeded by Winston Cheng as Chief Financial Officer and David Carroll as Chief Legal and Corporate Responsibility Officer, respectively. Winston is currently Senior Vice President and Deputy CFO having joined the company in April 2024, and David is currently Vice President and General Counsel for the Intelligent Devices Group and Group Operations having joined Lenovo as part of the Motorola acquisition in 2014. More information on their appointments is available here.
Commenting on the appointments and changes, Lenovo Chairman and CEO Yuanqing Yang, said: “On behalf of the board and management of Lenovo, I would like to express sincere appreciation and thanks to Bill, Tudor, Wai Ming and Laura for their devotion and remarkable contributions to Lenovo over many years. We wish them all the best in their new chapter of retirement,”
“I would also like to take this opportunity to welcome John to the role of lead independent director of the board, Gordon as the chairman of the Compensation Committee, and welcome Wai Ming and Laura to the Lenovo board. Their extensive experience and insight will be a tremendous asset to Lenovo.”
