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Lenovo chief shares annual bonus with staff

Posting in Technology

Lenovo CEO and Chairman Yang Yuanqing will share at least three million of his yearly bonus for the second year running after the tech giant posted record sales.

According to a memo sent by Gina Qiao, senior vice president of Lenovo human resources, roughly 10,000 employees will receive something extra in their pay packets to recognize their work.

Payments will be made to staff in 20 countries, although roughly 85 percent of recipients are based in China, where the average payment of $325 equates roughly a month's salary.

"This payment is personally funded by Yuanqing," the memo says. "He believes that he has the responsibility as an owner of the company, and the opportunity as our leader, to ensure all of our employees understand the impact they have on building Lenovo."

Yuanqing was paid $14.6 million last year, including a bonus of $4.23 million -- three million of which was issued to staff. In comparison, CEO of Hewlett-Packard Meg Whitman was paid almost $15.4 million last year, and Michael Dell, CEO of Dell, was paid $13.9 million. HP posted fiscal losses last year, and Dell's sales were lower than expected.

This year, PC maker Lenovo reported revenue of $34 billion and PC shipments of 52.4 million units in the year ending March 31. The tech giant has over 35,000 employees worldwide.

Via: Bloomberg

Image credit: Wikimedia Commons

— By on September 1, 2013, 11:32 PM PST

Charlie Osborne

Contributing Editor

Charlie Osborne is a freelance journalist and photographer based in London. In addition to SmartPlanet, she also writes for business technology website ZDNet and consumer technology site CNET. She holds a degree in medical anthropology from the University of Kent. Follow her on Twitter. Disclosure