Yahoo co-founder Jerry Yang attended the Allen Co & Media Conference in Sun Valley, Idaho July 13, 2012.
Credit: Reuters/Jim UrquhartHONG KONG | Wed Feb 20, 2013 8: 02 am EST
Hong Kong (Reuters)-Lenovo Group said Yahoo! co-founder Jerry Yang is to join its Board as an observer, as the world's no. 2 maker of personal computers, is expanding its mobile business to tap global demand for smartphones and tablets.
Yang, who is a co-founder of Yahoo! in April 1995 and served as CEO from June 2007 to January 2009, you will not be able to vote or any of the other rights of Director, Lenovo said Wednesday.
The Hong Kong company will pay $ 61,875 Yang annually and offer equity rights worth $ 135,000 against attending Board meetings and views.
Yang, 44, resigned from Yahoo's Board last year, when he also stepped down from the boards of Alibaba group holding and Yahoo! Japan.
Lenovo, the second-largest smartphone vendor in China, increasing its expansion in business.
In its third quarter, October to December, Lenovo shipped 9.4 million phones, including 9 million smartphones, mainly in China, where its Smartphone business is profitable for the first time.
(Reporting by Anne Marie Roantree; editing by Dan Lalor)
