North Wake News

Lenovo Group Limited has announced significant changes to its board compositions and committees. John Thornton, who is currently an independent non-executive director and a member of the Nomination and Governance Committee, has been appointed as the Lead Independent Director of Lenovo's board effective immediately.

Additionally, Gordon Orr, another independent non-executive director serving on both the Compensation Committee and Audit Committee, will now chair the Compensation Committee.

These appointments follow the resignations of William (Bill) Grabe and Tudor Brown from their roles as independent non-executive directors. Bill Grabe served on Lenovo's board for 19 years, including over 11 years as lead independent director. Tudor Brown had been with the board for more than 12 years. The resignations align with Lenovo's corporate governance principles and guidance from the Hong Kong Stock Exchange regarding tenures for independent non-executive directors.

Furthermore, two new non-executive directors will join Lenovo's board on April 1, 2025. WaiMing Wong, presently Chief Financial Officer at Lenovo, and Laura Quatela, currently Chief Legal and Corporate Responsibility Officer at Lenovo, will retire from their management roles by March 31 before assuming their new positions. WaiMing Wong will become a member of the Audit Committee while Laura Quatela joins the Nomination and Governance Committee.

Following these transitions in management roles, Winston Cheng will take over as Chief Financial Officer and David Carroll will assume duties as Chief Legal and Corporate Responsibility Officer. Winston Cheng joined Lenovo in April 2024 as Senior Vice President and Deputy CFO. David Carroll has been part of Lenovo since its acquisition of Motorola in 2014.

Yuanqing Yang, Chairman and CEO of Lenovo commented: “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.”