Damian Glendinning

Treasurer

Lenovo, Singapore

Industry:
Information technology
Annual turnover:
€10bn
Treasury staff:
30
Treasury structure:
Centralised
TMS:
Yes
Cross-border pooling:
Yes
Cash rich or debt:
Cash rich

Speaker profile

After 21 years with IBM, Damian joined Lenovo in 2005 as group treasurer, following the acquisition of IBM’s personal computer business. He had spent four years as IBM’s Asia/Pacific treasurer, in Singapore, and was their director of global treasury operations in New York.

Corporate profile

Lenovo was already the largest PC maker in China when it acquired IBM’s PC operations for approximately $1.75 billion in 2005. It remains the market leader in China, and is now the world’s fourth largest provider of PCs and related peripherals and services. Lenovo is listed on the Hong Kong Stock Exchange, and has a presence in over 60 countries around the world. The executive functions are spread between Hong Kong; Beijing; Raleigh, North Carolina; Singapore; and Paris, and the company has research centres in Japan, China, and the US.