Liu Chuanzhi, founder of computer maker Lenovo Group Ltd., is retiring as chairman and executive director of Legend Holdings Corp., the parent company of Lenovo.

In retirement, Liu will serve as honorary chairman, senior adviser and member of the strategy committee of the board of directors.

Ning Min, a company veteran who has held several senior roles including CFO and senior vice president, will succeed Liu as chairman, effective Jan. 1, 2020.

Zhu Linan, executive director and president of Legend Holdings, will resign as president but will continue to serve as director, while Li Peng, senior vice president, was appointed CEO.

Founded in 1984, Legend Holdings has financial and strategic investments in industries including IT, financial services, agriculture and advanced manufacturing.