Lenovo boss shares the spoils by splitting bonus with employees
3 September 2013 1:29am
LENOVO’s chief executive will share his $3.25m (£2m) bonus with employees for the second year running.
Yang Yuanqing will distribute the money to around 10,000 workers to recognise their contribution to the business, in a move seen as unusual for a Chinese company.
The payment will amount to more than £200 per employee.
Yang was paid $14.6m last year, including long-term incentive awards of nearly $9m on top of a bonus of $4.23m.
Lenovo’s profits last quarter of $173.9m beat analysts’ estimates. The company has seen its share price rise 7.6 per cent so far this year, versus a 2.1 per cent fall in the Hang Seng Index.
The group is currently the second biggest seller of mobile phones in China, which is the world’s biggest market for mobile devices.
Last month Lenovo also announced it had overtaken Hewlett-Packard in worldwide PC market share.
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