Lenovo founder Liu Chuanzhi to retire

Lenovo Group's founder, Liu Chuanzhi, will retire at the year-end as chairman of its parent Legend Holdings, the company said on Wednesday.

Seventy-five-year-old Liu, who founded Legend Holdings in 1984, had stepped down as the chairman of Lenovo Group in 2011 to focus on the parent company.

Legend veteran Ning Min, who joined the company in 1991 and has held several senior roles over the years including that of chief financial officer, has been appointed the new chairman.