Hong Kong-based Lenovo is restructuring its business into four units, from two, to “stay nimble and keep growing”, at the same time as Henry Ferreira steps down after three years as GM for Africa.
In a statement released yesterday, the company said it had “outgrown the market substantially” in the past three years, and would shift its focus to four new geographies: China, Asia Pacific/Latin America, North America, as well as Europe, the Middle East and Africa.
The company's new structure, which will kick in on 2 April, replaces its previous go-to-market organisations: Mature Group and Emerging Markets. “The new organisations will create four stronger, faster, more focused organisations to execute our strategy,” the company said.
In its second quarter results, released in November, CEO Yang Yuanqing said the company had recorded record highs in market share, shipments and revenue. In emerging markets, the company grew at almost four times the market rate.
Lenovo reported revenue of $7.79 billion and net profit of $145 million, compared with sales of $5.76 billion and bottom-line profit of $77 million in the previous year.
In the same statement, Lenovo said Africa GM Ferreira would be leaving the company at the end of the month. Ferreira will join Pinnacle Group company as CEO of distribution next month, says Pinnacle CEO Arnold Fourie.
Lenovo said Shashank Sharma, current Lenovo MEA operations director, will take on the role of acting GM for Africa until a new GM is appointed.
Ferreira was a “major proponent of the company's growth in the region”, said Lenovo. During his time with Lenovo, Ferreira focused on restructuring the business, building a strong team, and broadening Lenovo's customer base, the company says.
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