Lenovo founder Liu steps down

Liu Chuanzhi, founder of China's largest PC maker Lenovo Group, has stepped down as the group's chairman, and his role will be succeeded by CEO Yang Yuanqing, the group announced here Wednesday. Liu will become honorary chairman of Lenovo and Yang will assume the dual role of chairman and CEO, said the group in a statement on its official website. In a separate statement, Lenovo announced that it has become the world's second largest PC vendor with a record market share of 13.5 percent in its second fiscal quarter report. The Hong Kong-listed computer maker said in the three-month period ending September 30, its net profit jumped 87.9 percent to 144 million U.S.dollars.