Lenovo CEO shares $3.25 million of his bonus with employees (again) after record year

Posted on 02/09/2013 by Steve Dent

After helping Lenovo thrive in the wretched PC industry -- while also making it the number one Chinese smartphone maker -- CEO Yang Yuanqing earned a sizeable bonus. And like last year, he's sharing the wealth with front-line employees, giving $3.25 million of his $14.6 million salary to 10,000 workers in 20 countries. Lenovo grabbed a record $34 billion during its last fiscal year, along with an all-time high $653 million in profit. While the sum he shared may be small compared to that, it's almost a month's pay for the 85 percent who work in China. And we can't say we've seen too many CEOs stateside willing to part with their personal private jet fuel stash.

Filed under: Cellphones, Desktops, Laptops, Tablets, Lenovo

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Source: Bloomberg

Lenovo hopes to sell smartphones in the US within a year

Posted on 26/05/2013 by Jon Fingas

While Lenovo is one of the fastest-rising smartphone makers today, many Americans wouldn't know it when the company has never officially sold handsets in the country. They might soon be well acquainted, according to CEO Yang Yuanqing: he wants Lenovo to be selling smartphones in the US within a year's time. Mobile is the firm's next growth machine, he tells the Wall Street Journal, and that entails having smartphones in big markets beyond China, India and Russia. Yang is under no illusions that Lenovo can simply waltz into the fiercely competitive US market, but he also doesn't see much choice -- when the PC market is slowing down, business as usual may not be enough.

Filed under: Cellphones, Mobile, Lenovo

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Source: Wall Street Journal

Lenovo to split into Lenovo Business Group and Think Business Group, effective in April

Posted on 06/01/2013 by Richard Lai

Lenovo's done pretty well since its acquisition of IBM's personal computer business in 2005, but in an internal e-mail earlier today, CEO Yang Yuanqing admitted that despite some attempt, the Lenovo brand is still only playing well in the mainstream and low-end markets; whereas the Think brand is his company's best asset in the high-end market, and that it is the only brand that can compete with Apple in the high-end market. For the sake of better brand positioning and better efficiency, Yang announced in the same e-mail that his company will split into two new groups: Lenovo Business Group (LBG) and Think Business Group (TBG).

Effective from April 1st, LBG will be headed by Senior Vice President (Mobile Internet Digital Home) Liu Jun to focus on mainstream consumer and business desktops, laptops, and tablets, as well as smartphones and smart TVs. On the other side of the fence, TBG will be led by Senior Vice President (Product Group) Dr. Peter Hortensius to better establish the business-friendly Think brand in the consumer market, as well as continuing to stay ahead of the game in the global commercial business. Yang also pointed out that the recently created enterprise business team and workstation team will be part of TBG.

It'll be a while before we see the fruit of Lenovo's restructure, but it'll sure be interesting to come back to this in a year's time. Alas, we're now further away from ever seeing a ThinkPhone.

Filed under: Cellphones, Desktops, Laptops, Lenovo

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Via: Engadget Chinese

Source: Sina Tech (translated)

Lenovo CEO spreads the wealth, distributes his $3 million bonus to lower level employees

Posted on 20/07/2012 by Terrence O'Brien

The list of CEOs and other execs in the US that have accepted multi-million dollar bonuses for lording over the crash and burn of a company (or even an entire economy) is staggering. And we can guarantee you that most of that money went towards fancy cars and golden toilet seats. Lenovo's Yang Yuanqing, on the other hand, received a sizable $3 million bonus for actually being good at his job. The additional bonus was a reward for steering the company to record shipments and profits despite a weakening PC market. And what did Mr. Yuanqing do with that money? He gave it back to his employees. That second bonus was broken down into 10,000 discrete chunks and dispersed to line workers, assistants and other lower-level employees. I think that officially makes Yang Yuanqing our new favorite CEO in tech.