CEO divides his $3 million dollar bonus and gives it back to his employees

[retroman80s]

Hopefully more CEOs can learn from this example.



Lenovo CEO spreads the wealth, distributes his $3 million bonus to lower level employees
http://www.engadget.com/2012/07/20/lenovo-ceo-spreads-the-wealth/

The list of CEOs and other execs in the US that have accepted multi-million dollar bonuses for lording over the crash and burn of a company (or even an entire economy) is staggering. And we can guarantee you that most of that money went towards fancy cars and golden toilet seats. Lenovo's Yang Yuanqing, on the other hand, received a sizable $3 million bonus for actually being good at his job. The additional bonus was a reward for steering the company to record shipments and profits despite a weakening PC market. And what did Mr. Yuanqing do with that money? He gave it back to his employees. That second bonus was broken down into 10,000 discrete chunks and dispersed to line workers, assistants and other lower-level employees. I think that officially makes Yang Yuanqing our new favorite CEO in tech.

[wilsonlam97]

Y u not Larry Page?

[4flava]

Big ups to this good man. :)

[manixc]

Wow this is in China too. Thumb up

[lyndak22]

Yang Yuanqing is an example of a fine human being.
Others should at least _try_ and emulate him.

[Poulet]

Respect.

[iEyeCaptain]

Respect.

+1

[NEMESIS_2008]

Former Ornge CEO is LOLing

[appleb]

Too bad 3 million split up for 10,000 employees works out to only $300 per employee.

[jaysfan4life]

Wow .... Why is this news ? It's only $300

[IamToronto]

Too bad 3 million split up for 10,000 employees works out to only $300 per employee.

thats $300 more than youll ever get from your stingy boss
youve probably never even met your companies CEO because he sees you as just a bottom level worker monkey :)

[Aznsilvrboy]

Too bad 3 million split up for 10,000 employees works out to only $300 per employee.


Wow .... Why is this news ? It's only $300

Wouldn't you be happy if your CEO gave you your one month salary as a bonus? People are so stupid these days.

[windforcexx28]

Too bad 3 million split up for 10,000 employees works out to only $300 per employee.


Wow .... Why is this news ? It's only $300

It's not about the receiving end here...

[NEMESIS_2008]

Wow .... Why is this news ? It's only $300

$300 to Chinese factory workers is a lot, and especially in China
. Even in Canada $300 is not a bad bonus

[Jimboski]

+1

+2!
For people who are saying It's less It's the thought that counts, Also something Is better then nothing!
$300 In China I would think Is a lot..

[retroman80s]

In North America, companies cut employees in order to give their CEOs fat bonuses

[iEyeCaptain]

Too bad 3 million split up for 10,000 employees works out to only $300 per employee.


Wow .... Why is this news ? It's only $300

Check out these two billionaires here.

$300 is one months salary in China.

[appleb]

Geez, of course I know $300 is a lot for a chinese wages and of course the CEO is being generous. I was going to add that in my post but didn't think it was necessary to elaborate every tiny little detail to justify my post.

Anyway, I'm just saying it's too bad a 3 million payout divided out 10,000 ways ends up being $300.

[Jimboski]

Geez, of course I know $300 is a lot for a chinese wages and of course the CEO is being generous. I was going to add that in my post but didn't think it was necessary to elaborate every tiny little detail to justify my post.

Anyway, I'm just saying it's too bad a 3 million payout divided out 10,000 ways end up being $300.

Still, 10,000 are still happy about It regardless!

[Buggy166]

300 bucks in china, id gander to say for a low factory worker is 3-6 months worth of pay.

[Aznsilvrboy]

300 bucks in china, id gander to say for a low factory worker is 3-6 months worth of pay.

It's about one month. They're paid more or less along the lines of minimum wage which is different by province but usually between 1500RMB to 1800RMB which is about $300/month.

[Rainne]

Even $300 is nothing to sneeze at, even here, and would be a nice morale boost.

[thrifthunter]

Wow .... Why is this news ? It's only $300

$300 each, for a total of $3 million dollars moron!

So what, you'd give him more credit if he gave all the money to one individual?
Either way, he gave it all away.

[r1lee]

only $300? lol, what don't you look at the opposite end of this also. Why don't any of you shell out $3m.

[LaserEnvy]

Some people are really short sighted. The CEO did something very generous here. It works out to a lot of money for people in China. On top of that, he set a good example for other leaders.

I remember Notch did something similar, and the president if Nintendo cut his salary when the company didn't do so well.

[Junigenmukyoku]

Good man!

[divx]

+2!
For people who are saying It's less It's the thought that counts, Also something Is better then nothing!
$300 In China I would think Is a lot..

it's an average worker's monthly salary in a middle sized city.

[olssy]

Good thing he still has 14000000$US left for 2012. Makes me wonder how many months a factory worker would need to work to make 14 million...

14 000 000/300 = 46 666 months, makes me wonder how many years that is... 46 666/12 = 3 888 years

Let's see how much he makes a day: 14 000 000/ 365 = 38 356$ a day

I guess he works all year long seeing how he is the chief executive, lets see how much he make an hour if we consider he is working 24 hours a day: 38 356/24 = 1 598$ an hour

A fifth of that is about 300$ so it seems he makes a months salary of a low level worker in about 12 minutes and he does that 24/7 365 days a year.

Still it was generous of him to give the 3 million but I have a feeling that the worldwide positive publicity it has earned him and Lenovo is worth much more than 3 million dollars. Hopefully other corporations will see this as good publicity and follow suit.

[LaserEnvy]

^
i don't think our greedy ***** CEO's would give up millions of dollars for a bit of publicity.

[d182]

^
i don't think our greedy ***** CEO's would give up millions of dollars for a bit of publicity.

Damn right. Sucks cuz I sure could use a bonus :p

[flyinggonzo]

Wow, that's a great gesture.

[figment]

Now that's doing it right

Morale is probably pretty high there now = higher productivity and care/passion

[Poulet]

Now, if banks would do the same. When you think about it, it's your money.

They give you 1.5% in interest on your savings and make you pay 5% on your mortgage. Same client. At the end, the CEO makes millions, good or bad performance.

[ovechkin1]

He wouldn't be a good communist if he didnt do this.

[No Frills]

5K bonus equivalent would be pretty good.

[thinfilms]

Meanwhile CEO's over here still get 3M bonus for screwing up :facepalm:

[kamilio]

Why is he giving up his bonus? This reeks of socialism. I hope no one expects me to give away my earnings when I become a CEO...

If you haven't noticed I was being sarcastic.

[zz000ter]

WOW - Kudos to him



Why is he giving up his bonus? This reeks of socialism. I hope no one expects me to give away my earnings when I become a CEO...

One should never forget that a CEO is nothing without his employees
Loyalty to him will go through the roof!
This is a small cost for the long term gain he will get!

[starboy869]

Look what cat ceo did to the locomotive plant in London. Shut down shop and moved to a cheaper labour pool in the usa. Btw Cat made well into the billions$$$ of profit year after year.

[johnnyepy]

I take back what I said, I would buy another Lenovo product

[CDNPatriot]

I was nominated the top employee of a large company three years ago and got a $150 gift certificate to best buy. I like this guy.

[wilsonlam97]

I was nominated the top employee of a large company three years ago and got a $150 gift certificate to best buy. I like this guy.

What did you do with it?

[Buggy166]

What did you do with it?

probably bought an electric toilet paper dispenser to remind himself how much they appreciate him at work. its what id do. :lol:

[dragon_drift]

$300 is better than nothing.

[jacobe]

He could have kept it and no one would say anything about it but he chose to be generous with it so good on him. I kind of lost faith in Thinkpads when Lenovo took over but this generous act will be a +1 for Lenovo stuff in my books.

[BornRuff]

Now, if banks would do the same. When you think about it, it's your money.

They give you 1.5% in interest on your savings and make you pay 5% on your mortgage. Same client. At the end, the CEO makes millions, good or bad performance.

What are the odds that when it is time for you to receive your savings, that the money will be there?

Compare that to the odds that the bank has of getting their money back when they lend out money to you. Not quite as good. Higher risk, higher premium.

[BornRuff]

Apparently it was only part of his 5+ million dollar bonus. The guy also makes 14 million dollars per year.

http://www.digitaljournal.com/article/329033

Call me a cynic, but what are the odds that this was all a planned publicity stunt? Maybe the board agrees to bump up his bonus in if he agrees to give these "gifts" to the employees. What could have been simply a modest bonus to employees is now a huge PR win for the company.

[LaserEnvy]

Apparently it was only part of his 5+ million dollar bonus. The guy also makes 14 million dollars per year.

http://www.digitaljournal.com/article/329033

Call me a cynic, but what are the odds that this was all a planned publicity stunt? Maybe the board agrees to bump up his bonus in if he agrees to give these "gifts" to the employees. What could have been simply a modest bonus to employees is now a huge PR win for the company.

50/50

[desidealer49]

Someone showing the world they can sacrifice their wants for the good of others?

I guess we still got some human beings around.

[wilsonlam97]

Apparently it was only part of his 5+ million dollar bonus. The guy also makes 14 million dollars per year.

http://www.digitaljournal.com/article/329033

Call me a cynic, but what are the odds that this was all a planned publicity stunt? Maybe the board agrees to bump up his bonus in if he agrees to give these "gifts" to the employees. What could have been simply a modest bonus to employees is now a huge PR win for the company.

I knew it. Nobody can copy even a tiny bit of awesomnest from Larry Page/Sergey Brin.

[imknowno]

he would have 14mil+5mil, but gave out 3mil!! that's about 16%!!

you earned 100K a year, will you give out 16K?! this is not donation which you'll get back 50% of that as tax credit.

thumb up!

[Royalsoldier]

One month of salary in China = 300$
One month of salary in Canada = 1,300$ (minimum wage after taxes)

Therefore, getting a 1,300$ bonus here would make anyone extremely happy/satisfied.

[coolspot]

Too bad 3 million split up for 10,000 employees works out to only $300 per employee.

300 is better than 0!

[BornRuff]

I knew it. Nobody can copy even a tiny bit of awesomnest from Larry Page/Sergey Brin.

What did Page and Brin do?

[Canuck2fan]

Kudos to the guy for sharing the wealth when he didn't have to.

[x95zsk]

Wow .... Why is this news ? It's only $300
it is $300 in china...probably a month's wages for these guys. so that is a significant sum. have to think outside of north america salary

[Sharks316]

most won't do it

sadly i know i wouldn't...

[kiasu]

Y u not Larry Page?

Larry Page? You must be kidding...he's such an S-h0xx..

Have you ever heard Oracle has a bad relationship with a lot of co? Larry P is like "If you want, please pay full price..no negotiation...screw you"

And that's where all his $$$ go into getting an island in Hawaii

[opento]

Very nicew of him.

[Xeros]

Larry Page? You must be kidding...he's such an S-h0xx..

Have you ever heard Oracle has a bad relationship with a lot of co? Larry P is like "If you want, please pay full price..no negotiation...screw you"

And that's where all his $$$ go into getting an island in Hawaii

Are you sure you got the right Larry?

[Hitman21]

Good for the ceo, there needs to be more people like him