Lenovo Group Ltd. (992), the world’s biggest maker of personal computers, said Chief Executive Officer Yang Yuanqing will share his bonus with employees for a second straight year after achieving record shipments and sales.
A pool of 10,000 workers will get payments this month to recognize their contributions, Gina Qiao, senior vice president of Human Resources, said in a memo to some workers. The memo was confirmed by spokesman Jeffrey Shafer, who said the total payment is about $3.25 million.
Lenovo posted revenue of $34 billion and PC shipments of 52.4 million units in the 12 months ended March 31 as the company gained market share and expanded sales of mobile devices such as smartphones and tablets. The 48-year-old Yang, who gave $3 million from his bonus a year earlier, led the company to the top spot in the June quarter as it overtook Hewlett-Packard Co. (HPQ)
“This is quite rare, especially for a chairman of a Chinese company, to use his personal money as a bonus to reward employees,” said Kirk Yang, a managing director at Barclays Plc in Hong Kong, who rates the shares overweight. Full story...
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A pool of 10,000 workers will get payments this month to recognize their contributions, Gina Qiao, senior vice president of Human Resources, said in a memo to some workers. The memo was confirmed by spokesman Jeffrey Shafer, who said the total payment is about $3.25 million.
Lenovo posted revenue of $34 billion and PC shipments of 52.4 million units in the 12 months ended March 31 as the company gained market share and expanded sales of mobile devices such as smartphones and tablets. The 48-year-old Yang, who gave $3 million from his bonus a year earlier, led the company to the top spot in the June quarter as it overtook Hewlett-Packard Co. (HPQ)
“This is quite rare, especially for a chairman of a Chinese company, to use his personal money as a bonus to reward employees,” said Kirk Yang, a managing director at Barclays Plc in Hong Kong, who rates the shares overweight. Full story...
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