Lenovo 2015 Annual Report Download - page 126

124 Lenovo Group Limited 2014/15 Annual Report
DIRECTORS’ REPORT
PURCHASE, SALE OR REDEMPTION OF THE COMPANY’S LISTED SECURITIES
During the year ended March 31, 2015, neither the Company nor any of its subsidiaries purchased, sold or redeemed any of the
Company’s listed securities, except that the trustee of the long-term incentive program of the Company purchased 89,467,450
shares from the market for award to employees upon vesting. Details of the program are set out under section headed “Long-Term
Incentive Program” in the Compensation Committee Report on page 93 to 94 of this annual report.
DIRECTORS
The directors during the year and up to the date of this report are:
Chairman and Executive Director
Mr. Yang Yuanqing
Non-executive Directors
Mr. Zhu Linan
Mr. Zhao John Huan
Independent Non-executive Directors
Mr. Ting Lee Sen
Dr. Tian Suning
Mr. Nicholas C. Allen
Mr. Nobuyuki Idei
Mr. William O. Grabe
Mr. William Tudor Brown
Ms. Ma Xuezheng
Mr. Yang Chih-Yuan Jerry (appointed on November 6, 2014)
In accordance with article 107 of the Company’s articles of association, Mr. Yang Yuanqing, Mr. Zhao John Huan, Mr. Ting Lee Sen
and Mr. Nicholas C. Allen will retire by rotation at the AGM. Mr. Yang Chih-Yuan Jerry who was appointed as a director during the
year will retire pursuant to article 95 of the Company’s articles of association. Mr. Ting Lee Sen will not stand for re-election at the
AGM after having served as an independent non-executive director of the Company for 12 years, being the maximum term for an
independent non-executive director according to the corporate governance principle adopted by the Board of the Company. The
other four retiring directors will offer themselves for re-election/election at the AGM.
The Company has received from each of the independent non-executive directors an annual confirmation of his independence
pursuant to rule 3.13 of the Rules Governing the Listing of Securities on the Stock Exchange (“Listing Rules”). The Nomination
and Governance Committee has duly reviewed the independence of each of these directors. The Company considers they are
independent.
The list of names of all directors who have served on the boards of the subsidiaries of the Company during the year and up to the
date of this report is available on the Company’s website (http://www.lenovo.com/ww/lenovo/subsidiaries.html).
BIOGRAPHY OF DIRECTORS AND SENIOR MANAGEMENT
Honorary Chairman
Mr. Liu Chuanzhi, 71, has been appointed the Honorary Chairman and Senior Advisor of the Company since November 3,
2011. Mr. Liu is the founder of the Group and held the positions of executive director, non-executive director and chairman of the
Board at different times from 1993 until his resignation from the Board on November 3, 2011. As our Honorary Chairman, Mr. Liu
is not a director or an officer of the Company or of any subsidiary of the Company, and does not have any management role in
the Company or any of its subsidiaries. He graduated from the Xi’an Military Communications Engineering Institute (now Xidian
University) in China and has substantial experience in corporate management. Mr. Liu is the chairman of the board of Legend
Holdings Corporation, a company holding substantial interests in the issued shares of the Company.