Lenovo Holdings, parent firm of the world's No. 2 personal computer maker Lenovo, appointed a new president to replace founder Liu Chuanzhi as part of the company's move to launch a share sale in the mid-term.

Zhu Linan was named president of Lenovo Holdings yesterday while Liu, seen as godfather of China's information technology industry, would remain as chairman of the parent whose business covers information technology, real estate and private equity investment.

According to its website, Lenovo Holdings plans to issue an initial public offering between 2014 and 2016. Reshuffling its management team was part of the listing process, analysts said.

The firm was not available to comment further yesterday.

Founded in 1984, the key assets of Lenovo Holdings include Lenovo Group Ltd, the country's biggest PC maker and second behind Hewlett-Packard globally, private equity firm Hony Capital and Raycom Real Estate.