Lenovo is in some trouble, to be precise, it is Yang Yuanqing, president and CEO of Lenovo Group, who has had a restless year.

As an executive of a well-known domestic enterprise, Yang Yuanqing is extremely lucky, less than 40 years to control Lenovo Group, the largest PC giant in China, the career can be described as a spring breeze, but for him personally, it is an opportunity and a challenge, and this road is destined to be uneven.

Yang Yuanqing has been a little bad recently, the three-year plan of Lenovo that he personally formulated has ended in failure, the progress of product research and development with huge investment has been slow, and the high-profile entry into the Internet has also failed one after another, which is undoubtedly a big blow to him.

Dragged down by this, Lenovo's performance growth in 03 slowed down significantly, profit margins also shrank sharply year-on-year, and the stock price plummeted.

Yang Yuanqing knows that as early as 2000, Lenovo's industrial layout in China has reached a bottleneck, and there are only two ways to achieve the revenue expectation of 10 billion US dollars, either to adjust the industry and take the road of diversified development, or to go out and expand the international market.

So far, Lenovo has only one option left.

The reform of diversified development failed under his leadership, which had a lot of negative impact on Yang Yuanqing's leadership decision-making.

Entering the international market, especially the European and American markets, must be difficult for an Asian brand, Acer is a lesson from the past, Shi Zhengrong has also paid a heavy price for this, and if you want to go out, you must not follow the old road of Acer.

I have to say that Yang Yuanqing is indeed ambitious, and he is sitting at his desk at this moment, looking at the draft and implementation rules of IBM's personal computer business acquisition plan that has just been approved by the board of directors.

From the beginning of his tenure, Yang Yuanqing formulated this seemingly impossible plan, but he has not received the support of the board of directors, and even so, he has not chosen to give up.

After three years, three major overhaul acquisition proposals, two successive rejections, seemingly impossible to approve the proposal, in the end, the failure of the diversity reform helped him a lot, and the board of directors of Lenovo Group finally approved the plan before the holiday.

Yang Yuanqing didn't know whether to be happy or frustrated, looking at the materials in his hand, he gradually frowned.

Since 03, Lenovo has embarked on due diligence on the merger and acquisition plan, and for this purpose, it has also hired the most well-known international management consulting firm to conduct asset evaluation, and what he has in hand is the detailed merger and acquisition feasibility analysis report.

For international mergers and acquisitions, the most important thing is to be vigilant against financial risks, which is also the issue that Yang Yuanqing is most concerned about, looking at the payment price listed by the financial adviser, his brows furrowed again.

Compared with IBM, today's Lenovo is undoubtedly not enough.

Yang Yuanqing knows that cash payment is certainly unrealistic for Lenovo, and McKinsey's report clearly pointed out that if the merger and acquisition is implemented in cash, it will reduce Lenovo's asset liquidity, affect its solvency, and have a negative impact on the market.

In the acquisition plan made by financial adviser Goldman Sachs, a hybrid payment method of stock and cash is prioritized, which also confirms McKinsey's prediction.

Yang Yuanqing felt a little helpless, since he took over the position of president of the group, Lenovo's stock price has been falling, and now, the market value has shrunk by more than half, and this is the result of diversification attempts.

Thinking of this, Yang Yuanqing's heart became more and more irritable, he knew that the impact of the failure of the diversification reform was far from over.

If the merger and acquisition is completed, the group will obtain IBM's mature PC R&D system and researchers, so that several major product R&D laboratories built in China with huge investment in the past three years will become a redundant burden, and layoffs will become a real option.

Capital has always been realistic.

Yang Yuanqing knows in his heart that only by laying off domestic employees in advance can we avoid labor disputes in IBM's merger and acquisition negotiations.

Large-scale layoffs will inevitably attract media attention and will certainly cause fluctuations in the stock price, which makes Yang Yuanqing particularly concerned, after all, the stock price is ultimately related to Lenovo's equity payment amount.

He glanced at the real-time trend of Hong Kong stocks on the computer desktop, and fell again.

Yang Yuanqing was very annoyed, thinking of the hot topic of the major media this morning, he picked up the phone on the table, "Let Wang Xueyan come here." ”

Soon, Wang Xueyan, the assistant president and the only female executive in the president's office, entered Yang Yuanqing's office.

"Why hasn't the FM365 matter been resolved, the homepage is all directed to IBM, what does this mean, you were asked to deal with it years ago, and that's how you handled it?"

As soon as he entered the door, it was a lesson, which made Wang Xueyan, who was two years older than Yang Yuanqing, feel a little wronged.

FM365 has actually done no substantial damage to the group, and with the media hype, market volatility is inevitable, but anyone with a discerning eye knows that this impact is only temporary.

"Mr. Yang, Aolong.com has taken it back, FM365's domain name is a bit troublesome, the registrar is an American agency company, and the domain name holder offers $300,000, which is completely blackmail, and the group is naturally unacceptable. ”

"Promise him. ”

"What?" Wang Xueyan was obviously taken aback, 300,000 US dollars was not a small amount.

She knows very well in her heart that Mr. Yang's annual salary this year is only 500,000 US dollars, which has been halved compared with previous years, of course, there is a reason for this, Lenovo's performance declined last year, Liu Laoshuai spoke, and the salaries of all directors were reduced by 40% on average, and the president was halved.

Paying $300,000 for a domain name is obviously difficult for Wang Xueyan to understand.

"I said promise him to get the domain name back, and now, go and do it right away!"

Wang Xueyan was very hesitant, as the assistant president, she naturally had to unconditionally obey the president's decision, but as a conscientious Lenovo employee, she felt that she should fulfill the obligation to remind.

"Mr. Yang, since the matter of the domain name has been in the news, it will subside in a few days, and there is no need for the group to come up with this expenditure, and if this matter is exposed, I am afraid that you will be very troublesome on the board of directors. ”

Yang Yuanqing glanced at the female subordinate in front of him, and was a little disappointed, is this a matter of money?

The group will be followed by mass layoffs, and the stock price will definitely continue to fall.

The failure to enter the Internet, coupled with the huge amount of R&D funds wasted, if the two are mixed together, the impact on the stock price will be catastrophic.

Yang Yuanqing didn't explain, and he didn't have the heart to explain anything, he directly ordered: "Do what I say." ”

What should be said has been said, Wang Xueyan is a professional strong woman in the workplace, she understands the truth of moderation, and soon left the president's office with a new mission.