Chinese money
By Vincent Trivett | Minyanville :
Bonuses make up a huge part of executive pay in the United States, and though Chinese incentive structures are different, the same is true there. The CEO of Lenovo (LNGVY), a major Chinese computer parts maker, has found a pretty darn nice way to spend his.
Yang Yuanqing took in a $3 million bonus after the company reported a massive 73% jump in profits in the first three months of the year, ending Lenovo's best fiscal year to date.
The company thanked Yang for his performance with an extra $3 million, and he gave it all away to 10,000 lower-ranked employees in Lenovo's offices, call centers, and factories. Each worker received 2000 renminbi,or $314...Continue reading...
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