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
7/24/2012 12:31:37 PM
Hate to be the guy raining on the parade because I do feel what he did is good, but hasn't anyone thought about him doing this as a business strategy? Think about it, how many stories have we seen about this guy now? Could he have seen the atmosphere in the news and seized an opportunity to use $3 million to get $10 million in good advertising?
I hope that isn't why he did it, and even if it is, it still is good for those workers. I'm just saying.
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