After serving three years at the helm, Lenovo CEO William Amelio handed in his resignation. The timing of Amelio's departure comes amid dismal quarterly numbers for the company, which includes a $96.7 milion quarterly loss. It's the first time in several years since taking over IBM's personal computer division that Lenovo has fared so poorly. But is Amelio to blame?

"My take on his departure was that he was really the fall guy for Lenovo's problems in the last year or so -- and rightfully so in some respects, because a lot of these issues came under his tenure," said John Spooner, an analyst with Technology Business Research. "I think that if Lenovo had been a little more successful, he may have stuck around for a bit."

Amelio's resignation comes at the end of his three-year contract, during which time Lenovo gave up market share in the enterprise sector to Dell and HP.

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