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DainBramaged

(39,191 posts)
Mon Jul 23, 2012, 01:27 PM Jul 2012

Lenovo CEO Gives His $3 Million USD Bonus to 10,000 Employees

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.

http://www.dailytech.com/Lenovo+CEO+Gives+His+3+Million+USD+Bonus+to+10000+Employees/article25227.htm

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Lenovo CEO Gives His $3 Million USD Bonus to 10,000 Employees (Original Post) DainBramaged Jul 2012 OP
Makes me feel better about owning a Lenovo PC. marmar Jul 2012 #1
Android Tablet here ! n/t aggiesal Jul 2012 #10
I hate my Lenovo but for today I hate it a tiny bit less. beac Jul 2012 #11
Me too, I'm using a 3000H series. It's a good box. xtraxritical Jul 2012 #16
Imagine that ... 1StrongBlackMan Jul 2012 #2
K&R myrna minx Jul 2012 #3
Excellent justanidea Jul 2012 #4
I'm sure this is just some sort of scam... gregoire Jul 2012 #5
Sure, and Mitt Romney is chosen by his God to be President..... DainBramaged Jul 2012 #8
derp dionysus Jul 2012 #9
so what if he did receive $6M? He still gave $3M away catbyte Jul 2012 #12
Not a scam at all. klook Jul 2012 #14
K & R !!! WillyT Jul 2012 #6
God bless him Baitball Blogger Jul 2012 #7
never heaven05 Jul 2012 #13
Very cool klook Jul 2012 #15
Nice progressoid Jul 2012 #17

beac

(9,992 posts)
11. I hate my Lenovo but for today I hate it a tiny bit less.
Mon Jul 23, 2012, 03:49 PM
Jul 2012

Nice to hear about an un-greedy CEO for once.

 

1StrongBlackMan

(31,849 posts)
2. Imagine that ...
Mon Jul 23, 2012, 01:32 PM
Jul 2012

Comment heard at in undisclosed Squash/Racket Club's lockerroom:

"Damned foreigners ... They're ruining everything!"

 

justanidea

(291 posts)
4. Excellent
Mon Jul 23, 2012, 01:33 PM
Jul 2012

This is what a smart CEO would do. A bonus like that can greatly improve employee morale and as a result, productivity.

 

gregoire

(192 posts)
5. I'm sure this is just some sort of scam...
Mon Jul 23, 2012, 01:35 PM
Jul 2012

and he's being paid under the table. I'd bet good money his real bonus is $6 million, and he is only giving-up half of it.

klook

(12,154 posts)
14. Not a scam at all.
Mon Jul 23, 2012, 04:22 PM
Jul 2012

The source story on the CNN web site, which is linked from the DailyTech article, points out that Yang got a $5.2 million bonus and gave $3 million of it to the 10,000 employees. Are you telling us this makes him a bad guy, since he gave away only 58 percent of his bonus?

Is the business world filled with CEOs giving away 100 percent of their bonuses to line workers, and I've just missed it somehow?

klook

(12,154 posts)
15. Very cool
Mon Jul 23, 2012, 04:28 PM
Jul 2012

I would urge the cynics to compare this to the Wall Street execs who left their workforces unemployed but took staggering bonus payouts and golden parachutes anyway.

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