According to Silicon Alley Insider, Chinese computer maker Lenovo announced that it will fire American CEO William J. Amelio after his three year contract expires and replace him with company Chairman Yang Yuanqing. Founder Liu Chuanzhi will assume the Chairman position.
Silicon Alley Insider also reports that "company shares are down 70% in the last year. Earlier this month, Lenovo announced plans to fire 11% of its workforce -- about 2,500 people." Be sure to also check out the New York Times article about this latest shake-up at Lenovo.
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Mr. Amelio: I love to hang out in Singapore, where my family is. I don't play golf or anything, so when I'm home, I'm home. My wife and I have four kids, ages 21 months to 18. We also have two sixth-grade Cambodian girls that are living with us and going to school in Singapore. They're from the school that my wife and I started in Cambodia.