According to its latest financial report, China's biggest personal computer manufacturer, Lenovo, has overtaken Dell to become the world's second largest PC supplier. With a 13.5% of the world's market share, many would believe the company is on a steady track to success. So why is Lenovo's founder stepping down as chairman of the board?

Liu Chuanzhi, chairman no longer, but he remains an integral part of the Lenovo family.

Liu Chuanzhi, Founder of Lenovo Group said: "I'm not really resigning. I'm instead shifting my field of focus. I have complete confidence in Lenovo, so I have decided to return to Legend Holdings, where I'm needed more."

Liu Chuanzhi, the founder of China's largest PC maker, the Lenovo Group, has stepped down as the company's chairman and will be succeeded by CEO Yang Yuanqing.

Lenovo's parent company Legend Holdings is planning an initial public offering between 2014 and 2016. And Liu, a business legend known for working miracles, can certainly pitch in on the efforts.

Liu founded Lenovo in 1984 with a team of 10 scientists and 200,000 yuan in funds. He stepped down as CEO in 2004, only to return five years later to help turn the company around during the global economic decline.

Since Liu's comeback in 2009, Lenovo has risen to become the world's second largest PC maker. Its second quarter profit rose a whopping 88 percent after boosting sales to corporate clients in the U.S. and gaining market share globally.

Liu's contribution to Lenovo's performance in the PC market is certainly difficult, if impossible, to match. The new chairman, hoping to fill his predecessor's shoes, is aiming for a different angle.

Liu Chuanzhi, the founder of China's largest PC maker, the Lenovo Group, has stepped down as the company's chairman and will be succeeded by CEO Yang Yuanqing.

Yang Yuanqing, Chairman of Lenovo Group said: "We will put extra focus on communication and connection between the various information terminals, such as the internet, and information sharing. I believe consumers will soon see more products from Lenovo in these areas."

According to Yang, Lenovo will continue to maintain its share in the PC market, while seeking opportunities in the mobile and internet sectors.

A combination of a new outlook and tradition.

(CNTV November 4, 2011)