Lenovo personal computer brand in China since 1997. In 2001, "Business Week" named him one of Asia's rising stars in business. Yang was president and CEO of Lenovo until 2004, when Lenovo closed its acquisition of IBM's PC division, after which Yang was succeeded as Lenovo CEO by IBM's Stephen M. Ward, Jr. Ward was succeeded by Bill Amelio on 20 December 2005. In February 2009, Yang replaced Amelio as CEO and has served in that capacity ever since. Yang was chairman of Lenovo's board from 2004 to 2008, and returned as chairman in 2012 alongside his role as CEO. In
Lenovo companies said in a statement that they would establish a new company called Lenovo NEC Holdings, to be registered in the Netherlands. NEC received US$175 million in Lenovo stock. Lenovo was to own a 51% stake in the joint venture, while NEC would have 49%. Lenovo has a five-year option to expand its stake in the joint venture. This joint venture was intended to boost Lenovo's worldwide sales by expanding its presence in Japan, a key market for personal computers. NEC spun off its personal computer business into the joint venture. As of 2010, NEC controlled about 20% of Japan's