Lenovo CEO Gets $3 Million Performance Bonus, Gives It Away To Employees

Brad Chacos

Usually, when you hear about CEO compensation, it's in relation to how mind-blowingly much executives make, or how a dismissed honcho left riding on a golden parachute. Not at Lenovo. The PC provider has been on a tear in recent months and is on the verge of supplanting HP as the number one computer manufacturer in the world. That top-notch performance made CEO Yang Yuanqing eligible for a big fat bonus check. Rather than keeping the cash for himself, he divvied up the $3 million performance-related bonus into 10,000-ish slices and distributed it to the everymen (and women) who make up the bulk of the company.

The shared bonus only went out to junior-level employees, such as receptionists and factory workers, rather than managers or other executives. Each employee received the equivalent of $314, CNN reports .

That would be nothing to sneeze at in the U.S., but it's a staggering sum in China, where Lenovo is based. According to the National Bureau of Statistics of China , the average rural Chinese resident only earns 6,977 yuan per year, or the equivalent of $1,094. Urban Chinese residents make out better, pulling down a 2011 yearly average of 23,939 yuan, but that still only works out to $3,762. Basically, $314 can mean a world of difference for Lenovo rank-and-file employees.

Lenovo's CEO pulled down an additional $2.2 million in bonuses from other incentives and earned a total compensation of right around $14 million.

Around the web

by CPMStar (Sponsored) Free to play