Liu Chuanzhi, the Chinese entrepreneur who founded Lenovo, will retire as chairman of its parent company, Legend Holdings at the end of the year. The company, which Liu set up in 1984, acquired IBM's Personal Computer (PC) business 20 years later, becoming the world's largest PC vendor. It bought cellphone brand Motorola from Google in 2014, and then it went public on the Hong Kong stock market in 2015. Liu has stepped down twice before but returned when the company was going through a difficult period. Ning Min, senior vice president and chief financial officer, will take up Liu's position as chairman.