Lenovo CEO Yang Yuanqing Shares $3.25 Million Bonus With Employees
Lenovo has been having a great year so CEO Yang Yuanqing was given a $3.25 million bonus. Instead of pocketing the bonus for himself, Yuanqing has decided to spread the $3.25 million of his $14.6 million salary to 10,000 workers in 20 countries. Lenovo hit $34 billion in revenues for the last fiscal year with a profit of $653 million. These are the types of actions that could help improve employee morale.
Lenovo shipped 52.4 million units for the year through the expanded sales of smartphones and tablets. Yuanqing also gave out $3 million from his bonus a year earlier. Lenovo has offices in Beijing and Morrisville.
“This payment is personally funded by Yuanqing,” stated Lenovo senior vice president of human resources Gina Qiao. “He believes that he has the responsibility as an owner of the company, and the opportunity as our leader, to ensure all of our employees understand the impact they have on building Lenovo.” Workers will receive the equivalent of around $325, which is almost equal to a month’s pay for a typical city worker in China.
Lenovo had over 35,000 employees globally at the end of March. Employees that receive the bonus from Yuanqing are mostly in the manufacturing end of the business that are paid on an hourly basis and are not eligible for other bonus programs.