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Lenovo posts loss, CEO resigns

February 06, 2009|Times Wire Reports

PC maker Lenovo Group announced a $96.7-million quarterly loss as sales dropped in the global economic turmoil, and it said Chief Executive William J. Amelio resigned in a management reshuffle.

Amelio will be succeeded as chief executive by Chairman Yang Yuanqing, Beijing-based Lenovo announced. Yang said the company, the world's fourth-largest PC manufacturer, would try to increase its dominance in its home market.

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