CEO of Lenovo Gives $3 Million in Bonuses to Employees

By Lyneka Little

Jul 23, 2012 7:05pm
gty yang yuanqing lenovo bonus lpl 120723 wblog CEO of Lenovo Gives $3 Million in Bonuses to Employees

Lenovo Chairman and Chief Executive Officer Yang Yuanqing talks to the media at Lenovo Corporate Headquarters on March 6, 2012 in Beijing, China. (Credit: ChinaFotoPress/Getty Images)

Lenovo CEO Yang Yuanqing has decided to use a $3 million bonus he received for the company’s record-setting year to reward thousands of the company’s rank-and-file employees.

The 47-year-old gave around 10,000 employees worldwide bonus checks for their hard work, Lenovo spokesman Jeffrey Shafer said.

The computer company announced its fourth quarter earnings in May. According to a press release, net profit for the company rose 73 percent year over year. The brand’s global PC sales rose by 35 percent year over year.

The employees, who worked in different areas of the company — from manufacturing to administration to other nonmanagement positions, each received around $300 as a part of Yuanqing’s generosity.

“We ended the year as the number two PC maker, ” Shafer said. “Yuanqing felt that he was rewarded well simply as the owner of the company.”

According to Shafer, Yuanqing owns about 8 percent of the company.

Shafer said the CEO felt like it was the right thing to do to “redirect [the money] to the employees as a real tangible gesture for what they done.”

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