Mary Ma
Mary Ma | |
|---|---|
| Born | 1952 or 1953 |
| Died | 2019-08-31 |
| Occupation(s) | Entrepreneur, investor, chief financial officer |
| Known for | CFO of Lenovo; co-founder of Boyu Capital; instrumental in Lenovo's acquisition of IBM's PC division |
Mary Ma, also known as Ma Xuezheng (; born 1952 or 1953 – died 31 August 2019), was a prominent Chinese entrepreneur and investor. She held the position of chief financial officer at computer manufacturer Lenovo and was instrumental in the company's 2005 purchase of IBM's personal computing division. That same year, Forbes ranked her as the 57th most influential woman worldwide. Following her departure from Lenovo in 2007, she co-established the private equity firm Boyu Capital, which invested in enterprises such as Alibaba Group and Megvii.
Early life and career
Ma completed her education at Capital Normal University in 1976 amid the Cultural Revolution, and pursued further studies at the University of London. She dedicated 12 years to working at the Chinese Academy of Sciences and acted as an interpreter for prominent Chinese figures including Deng Xiaoping and Hu Yaobang.
Lenovo
In 1988, Ma encountered Liu Chuanzhi, founder of Legend (now known as Lenovo), and joined the company two years later as assistant general manager of its Hong Kong branch. By 1997, she had advanced to deputy general manager of Legend Holdings and introduced an employee stock ownership plan—a groundbreaking initiative for a Chinese enterprise—which contributed to the company's resilience during the 2000 dotcom downturn. She was subsequently elevated to the role of CFO.
Ma spearheaded Lenovo's $1.75 billion acquisition of IBM's PC division in 2005, including the acquisition of the ThinkPad brand. This deal expanded Lenovo's size fourfold, establishing it as the third-largest computer manufacturer globally. In recognition, Forbes included her among the top 100 most powerful women that year. By 2019, Lenovo had grown to become the leading PC manufacturer worldwide, commanding approximately one-quarter of the global market.
In 2006, Ma played a key role in securing Lenovo's sponsorship of the 2006 Winter Olympics held in Turin—marking the first time a Chinese company sponsored a major international sporting event.
Boyu Capital and later life
After retiring from Lenovo in 2007, Ma continued serving as a non-executive director. She joined private equity firm TPG and co-founded Boyu Capital (博裕资本) in 2011. Boyu successfully raised close to US$10 billion, directing investments toward leading corporations and emerging ventures such as Alibaba Group, NetEase Music, LY.com, Easyhome, and Megvii.
In March 2019, Ma was named an independent board director at Hong Kong Exchanges and Clearing, which operates the Hong Kong Stock Exchange. Additionally, she held non-executive directorships with both Unilever and Swire Pacific.
Ma passed away on 31 August 2019 at age 66 due to pancreatic cancer.