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Lenovo CEO Shares $3 Million Bonus With Workers
hackingbear writes "Yang Yuanqing, founder and CEO of Chinese PC maker Lenovo, will share $3.25 million from his bonus with some 10,000 staff in China and 19 other countries. 'Most are hourly manufacturing workers,' Lenovo spokeswoman Angela Lee said. 'As you can imagine, an extra $300 in a manufacturing environment in China does make an impact, especially to employees supporting families.' In its annual review last year, Lenovo raised Yang's base pay to $1.2 million and awarded him a $4.2 million discretionary bonus and a $8.9 million long-term incentive award. Yang owns 7.12% of Lenovo's shares, equivalent to about $720 million in stock."
I believe that he did this last year as well.
Good on him, especially considering that Lenovo has been quite successful recently in a contracting PC market
It's easy to be a philanthropist when you're rich. Just sayin'
Its also easy to not share your wealth with your workers.
Thanks for the info. I will make it a point to buy / recommend Leveno products. I want to reward this behavior.
The workers feel appreciated and will be diligent.
You don't happen upon good employee morale and company stewardship.
It has to be grown. Quality and waste will decrease. When employees feel zero empathy for the company or it's future, a fall is sure to follow.
In before 1000 Libertarians explaining that nobody works unless they're paid money, because nothing is important except accumulation of material tat.
Libertarian here. His stock is worth $720M, and he only gave away 0.5% of that. If his generosity boosts morale enough to generate just 1% more profit, then he has doubled the money. He is publicizing this gift, so the workers are aware of the source, rather than giving anonymously, so he is at least partly motivated by greed. This looks like a smart investment.
If this is all about return on investment, why don't all CEs of multinationals do this?
Are they all that dumb? Are you saying they should all be sacked?
Actually all the empirical evidence seems to point to it being harder.
Troll is not a replacement for I disagree.
Not as easy as you think. First you have to get over yourself. That's HUGE when you're rich because you tend to think you're better than those below you and your status and ability to rise to your level convinces you of it. So, no it's not as easy as you think. In reality, it's easy to imagine being generous when you don't have much to give.
In reality, it's easy to imagine being generous when you don't have much to give.
Bingo. Being rich insulates you from understanding hardship, the most generous people are generally the ones who can least afford it because they experience some level of poverty on a daily basis.
When information is power, privacy is freedom.