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In the Media

article imageLenovo CEO gives $3 million in bonus money to employees

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By Brett Wilkins
Jul 20, 2012 in Business
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The CEO of one of the world's leading computer companies has drawn worldwide attention after he decided to give away millions in bonus pay to his employees.
CNN reports that Yang Yuanqing, chief executive at Chinese electronics firm Lenovo, distributed $3 million of his $5.2 million bonus for the fiscal year ending in March to around 10,000 junior-level company employees. Each worker received an average of about $314.
Yang's generous move comes as Lenovo, which bought IBM's personal computer division in 2005 for $1.75 billion, is enjoying a sharp increase in profits. The $30 billion company saw a 73% rise in net profits from the previous year.
"The 2011-2012 fiscal year was a record-setting year for Lenovo," Yang wrote in a May press release. "We set an all-time high for revenue, shipment, market share and pre-tax income."
All told, Yang earned a total of $14 million in salary, bonuses and benefits last year.
Lenovo is the world's second-largest personal computer vendor by market share, after Hewlett-Packard. Its products include ThinkPad notebook computers and ThinkCentre desktop computers.
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