From 100 million to 30 million! The chairman and CEO of Lenovo holdings both took the initiative to reduce their salaries by 70%
May 5th, 2022

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According to the 2021 annual report released by Lenovo holdings, the remuneration of its main management in 2021 has decreased significantly, of which Chairman Ning min and CEO have taken the initiative to reduce by about 70%.

According to the annual report, the remuneration of the main management of Lenovo holdings in 2021 was 47.363 million yuan, a decrease of 138.386 million yuan or 74.5% compared with 2020.

Among them, Ning min, chairman and executive director of Lenovo holdings, received a total salary of 16.509 million yuan in 2021, a decrease of 38.1311 million yuan or 69.8%.

Li Peng, executive director, CEO and CEO, received a total salary of 13.435 million yuan in 2021, a decrease of 33.381 million yuan or 71.3%.

Their total annual salary is 29.944 million yuan, compared with 101 million yuan in 2020.

Ning min and Li Peng received basic salary, discretionary bonus, medium and long-term incentive awards, pension plan contributions and other benefits from Lenovo holdings.

It is worth mentioning that Ning min and Li Peng have voluntarily given up discretionary bonuses and medium and long-term incentives at the end of 2021.

In addition, none of the five highest paid individuals of Lenovo holdings and its subsidiaries in 2021 was a director or senior executive.

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