(NEW YORK) — Lenovo CEO Yang Yuanqing has decided to use a $3 million bonus he received for the company’s record-setting year to reward thousands of the company’s rank-and-file employees.
The 47-year-old gave around 10,000 employees worldwide bonus checks for their hard work, Lenovo spokesman Jeffrey Shafer said.
The computer company announced its fourth quarter earnings in May. According to a press release, net profit for the company rose 73 percent year over year. The brand’s global PC sales rose by 35 percent year over year.
The employees, who worked in different areas of the company — from manufacturing to administration to other non-management positions, each received around $300 as a part of Yuanqing’s generosity.
“We ended the year as the number two PC maker,” Shafer said. “Yuanqing felt that he was rewarded well simply as the owner of the company,” said Shafer, who noted Yuanqing owns about 8 percent of the company.
Shafer said the CEO felt like it was the right thing to do to, “redirect [the money] to the employees as a real tangible gesture” for their efforts.
Copyright 2012 ABC News Radio
Ahiza Garcia, CNN
Susie East, CNN
Brian Stelter, CNN Newswire
Sara Weber, Deseret News