IBM loss - at the time the biggest in American corporate history. Lou Gerstner was hired as CEO from RJR Nabisco to turn the company around. In 2002, IBM acquired PwC consulting, and in 2003 it initiated a project to redefine company values, hosting a three-day online discussion of key business issues with 50,000 employees. The result was three values: "Dedication to every client's success", "Innovation that matters—for our company and for the world", and "Trust and personal responsibility in all relationships". In 2005, the company sold its personal computer business to Chinese technology company Lenovo and, in 2009, it acquired
Lenovo reducing the number of KPIs from 150 to 5, offering intensive training to managers, and working to create a global Lenovo culture. Lenovo also doubled-down on vertical integration and manufacturing near target markets in order to cut costs at time when its competitors were making increased use of outsourcing off-shoring. By 2013, Lenovo ranked 20th on Gartner's list of top 50 supply chains, whereas in 2010 the company was unranked. In 2012, Lenovo partially moved production of its ThinkPad line of computers to Japan. ThinkPads will be produced by NEC in Yamagata Prefecture. Akaemi Watanabe, president of Lenovo Japan, said,