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.
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Thats very nice, maybe a little too nice...
7/23/2012 6:15:09 PM
That sounds like a very generous and human thing to do. Which makes me question his ability to be a CEO. Doesn't he know that the only way to succeed is to devalue your employees whenever possible and to treat them a like they are more disposable then the paper in the copy machine? Maybe he should come to the U.S. where our CEOs can not only teach him the finer points of pension raiding and spectacular turnover rates, but they can teach him how to out source too!
"What would I do? I'd shut it down and give the money back to the shareholders." -- Michael Dell, after being asked what to do with Apple Computer in 1997
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