Lenovo Group, which earlier announced that it has become the number 2 global PC maker after achieving record worldwide market share in its second quarter, today announced that its CEO Yang Yuanqing will assume the dual role of Chairman and CEO. Company founder Liu Chuanzhi, who returned as chairman in February 2009 to help turn the company around successfully after the economic downturn, will become honorary chairman of Lenovo. He will focus most of his efforts on Lenovo’s parent company, Legend Holdings, to significantly accelerate growth, build core operating assets, and drive Legend Holdings to a targeted IPO between 2014 and 2016.