Lenovo CEO Gives His $3 Million USD Bonus to 10,000 Employees
July 20, 2012 9:43 AM
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(Source: Harikrishna Katragadda / Mint)
10,000 workers get generous bonus from Lenovo CEO Yang Yuanqing
It will come as no surprise to anyone who follows the technology world that CEOs at major corporations make a ton of money. Often their bonuses are even more than their yearly income. The CEO of Lenovo, Yang Yuanqing, recently received a fat bonus of $3 million. Rather than stuffing that big bonus away in his own bank account, Yang Yuanqing gave it away.
The CEO took the $3 million bonus and distributed it among 10,000 junior level employees. Among the employees to receive a piece of the pie were receptionists, production line workers, and assistants. Each of those 10,000 employees received a bonus of 2000 yuan, which works out to about $314 USD.
Lenovo had its best fiscal year ever, which ended in March. Lenovo saw a 73% increase in net profit compared to the previous year and Yang had previously said that it was a "record-setting year for Lenovo."
It's nice to see an executive giving away a huge chunk of money to the employees that had as much to do with Lenovo's successful year as any executive within the company.
Lenovo has recently launched several new products and services, including new
plans for its mobile computers.
This article is over a month old, voting and posting comments is disabled
RE: Might not seem like much
7/20/2012 11:30:28 AM
kudos to Lenovo's CEO. That gesture will bring about a happier workplace, which has intangible benefits of more than USD $3 million most likely.
In contrast, our company cut out the hot chocolate a few years ago (never came back either), citing a 90k/yr cost with it, while the CEO kept millions in stock grants and bonuses. I mentioned to colleagues then that the CEO will make a lot of people happy by using 90k of his multi-million bonus to bring back that hot chocolate. But of course it didn't happen. Oh yeah, they took away the free boxes of tissue paper too.
RE: Might not seem like much
7/24/2012 9:34:21 AM
90k for frickin hot chocolate? That must have been some damn hot chocolate.
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