Mary Ma, former Lenovo executive instrumental in the takeover of IBM’s personal computer business, dies at 66
- HKEX and Lenovo, the world’s biggest PC maker, separately express sympathy to the prominent businesswoman’s family
Mary Ma Xuezheng, a Lenovo executive who was instrumental in the US$1.75 billion acquisition of IBM’s personal computer division in 2004, died on Saturday. She was 66.
The cause of her death was not known, but the Chinese publication Caixin reported that the founding partner of Chinese private equity firm Boyu Capital was suffering from pancreatic cancer.
Ma, an executive director of Hong Kong-listed Lenovo Group, was in March appointed to Hong Kong Exchanges and Clearing’s board as an independent non-executive director for a two-year term.
“The board expresses its deepest condolences to Ms Ma’s family. A further announcement will be made by the government to fill the vacancy,” the HKEX said in a statement on Monday .
A statement issued by Lenovo to the Hong Kong stock exchange said “the board would also like to express its deepest sorrow for the departure of Ms Ma and extend its deepest sympathies to her family”.
Separately, Lenovo’s chief executive and chairman Yang Yuanqing lauded Ma for her “tremendous contribution” to the company,particularly the acquisition of IBM’s personal computer division and its subsequent integration.