Lenovo CEO Yang doles out US$3m bonus to staff
Production line workers, receptionists, call centre workers and others score CEO cash
In an almost unheard of act of selflessness and generosity from a CEO, Lenovo boss Yang Yuanqing has decided to distribute $3 million (£1.9m) from his annual bonus to junior members of staff working at the Chinese PC giant.
The firm had a bumper 2011, setting new records in market share, revenue and shipments and posting a huge jump in net profits of 73 per cent from the previous year.
As a result, Yang’s bonus was nudged upwards to the tune of $3m, but instead of putting the cash towards the usual CEO perks of a new yacht or a private island, he decided to share the wealth with the little people.
Lenovo confirmed the news to The Reg today, but were tight-lipped on the specifics.
However, according to CNN, some 10,000 junior employees all over the globe, from production-line workers to receptionists, benefited from a “Yuanqing special reward” of around 2,000 yuan (US$313 or £200).
China.org.cn spoke to one of the lucky recipients, call centre worker Zhang Jing, who said that, together with 800 of her colleagues, she was notified of the windfall by email at the end of June.
It’s a shrewd PR move by Yang that will do wonders for staff morale, and given the huge sums doled out to CEOs of big tech brands like Lenovo, he’s not likely to miss the extra $3m.
Meg Whitman, CEO of HP, which Lenovo is within a whisker of overtaking as the world’s number one PC maker, will reportedly receive a $6m annual bonus if she hits certain targets, while new Yahoo boss Marissa Mayer is said to have a chance of winning an annual bonus of $4m.
Who knows whether we can expect to see ostentatious shows of kindness towards staff from Yang’s counterparts in the near future. I wouldn't bet on it. ®
Sponsored: Network DDoS protection