New advantages for all PC customers
The New Lenovo: Overview $13B sales (last 12 months) 19,000 employees WW Headquarters: New York, USA Principal operations: Raleigh, Beijing Public company with ownership positions by Lenovo and IBM Closing date: 2Q05 Est. combined share data: 34% in China
Customer Value
Transaction Summary IBM: ownership stake, long-term alliances with the new Lenovo in sales, services and financing
Lenovo Group LTD Founded 1984 FY04: Revenue, $3B; Net Profit, $135M Approx. 9,000 employees (27% market share, source: IDC) #1 PC company in Asia Pacific (excl. Japan) #1 IT company in China Small Business and Consumer market strength Market capitalization: approx. $2.6B
IBM Personal Computing Division Established in 1981, creator of personal computer $9B 2003 revenue; 10,000 employees in PCD and supporting operations Undisputed leader in enterprise PC design, business productivity, and lowest total cost of ownership Enterprise and Mid-market strength (15% share total client) Client, notebook and SMB double-digit growth, outpacing industry ThinkPad notebooks have won over 1,000 industry awards 100-million PCs shipped
Global PCs: Where are the opportunities?
The New Lenovo: Leveraging strengths to pursue opportunities
Global PCs: Where are the opportunities? Top six emerging countries will represent 39% of the 2004 – 2006 growth opportunity* IBM is performing well on the premium product segments in these countries with the proper sales and distribution channels to reach these markets The new Lenovo will have a broader product portfolio to capture this opportunity
A Perfect Fit between Complementary Organizations
Lenovo’s Chairman Yang
Peter Haddad VP Human Resources, PSG
The New Lenovo Value Proposition - The new Lenovo will offer an exciting opportunity to participate in a new and expanding business venture
- The new Lenovo will offer an attractive employment package
- Lenovo and IBM are committed to make this a smooth transition that minimizes personal disruptions and loss of work productivity
IBM Employees Joining the new Lenovo Employees who are part of PCD and their primary work responsibility is in support of the PCD mission/business Employees in other business units whose primary work responsibility is in support of the PCD mission/business Additional employees deemed necessary to meet the new Lenovo’s requirements may be selected based upon business need and an assessment of their current job responsibilities
Attractive Employee Compensation & Benefit Package* The new Lenovo will provide total compensation and benefits that are comparable to IBM’s:
Attractive Employee Compensation & Benefit Package* (continued) Employee Health Benefit Package - Immediate access for employee & dependents – no exclusions
- Pre-existing conditions are covered
- Credit for current year plan deductibles
Years of service credit for: - The new Lenovo Vacation Plan will be based on combined IBM and Lenovo years of service and will provide the same benefits as the IBM plan guidelines
- IBM accrued and unused vacation transfers with you according to country legal standards
- Other selected benefit programs (varies by geography)
US Benefits: the new Lenovo Pension Plans with comparable benefits and service credit for purposes of determining eligibility and vesting: - IBM Personal Pension Plan (Prior DB Plan) – new Lenovo Pension Plan (DB)
- IBM Personal Pension Account (Cash Balance) – new Lenovo Defined Contribution Plan
- IBM Savings Plan – the new Lenovo 401(k) Plan
Health benefits - Continuous coverage
- Medical
- Dental
Compensation Vacation – Same as IBM plan More details about the new Lenovo benefits will be forthcoming
IBM / Lenovo Transition Schedule
HR Summary
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