Sima Nan opened fire, shelled Lenovo for several months, and did not force Liu Chuanzhi and Yang Yuanqing to respond with a word, do you know the reason? This is because Sima Nan does have a hand in fighting fake qigong, cross-border finance and economics are too layman, and the momentum looks very big, but in the eyes of insiders, Sima Nan is all biased, not to mention shaking Liu Chuanzhi, who is a scheming person.
As the saying goes, to hit a snake is to hit seven inches. If you don't hit it seven inches, it's a trivial matter to not die, and it's trouble to be bitten back by someone. My little friend and I have followed Lenovo for many years, and we are familiar with Lenovo to the point that we can't be more familiar with it, and recently we will divide it into several phases to exclusively pick up Lenovo to the sky, this issue will talk about how Yang Yuanqing's annual salary of 170 million Hong Kong dollars and Liu Chuanzhi's sky-high pension were obtained.
As we all know, Lenovo was founded in 1984, the Chinese Academy of Sciences calculated the money, the state-owned assets identity has good and bad places, the advantage is that there is no need to ask grandpa to tell grandma to find money, the disadvantage is that the salary is limited, you can't casually treat the enterprise as your own cash machine, take as much as you want.
How can I get money from Lenovo? IT godfather Liu Chuanzhi took three wonderful moves.
The first step was to set up Hong Kong Lenovo in Hong Kong in 1994, which was also the main body of Lenovo Group that was later listed, but the actual business was almost entirely the mainland Lenovo. It is not easy to get a high salary in a domestic Lenovo company, can I get a salary at Lenovo in Hong Kong? Since it is a Hong Kong company, it is not too much to refer to the local wage level, right? Isn't it understandable to be a little higher? In this way, Liu Chuanzhi and Yang Yuanqing broke through the first line of defense of state-owned assets to limit salaries. However, how can this little fly-head profit satisfy their appetite?
Around 2000, Liu Chuanzhi set up Legend Holdings in the name of diversification, do not underestimate this step, this is actually a big step for Lenovo to move towards the impenetrable needle and the water cannot be splashed into the independent kingdom.
Before, the Chinese Academy of Sciences directly controlled the Legend Group, with Legend Holdings, the Chinese Academy of Sciences was no longer a shareholder of the Legend Group, but became a shareholder of Legend Holdings, and then Legend Holdings managed the Legend Group, in other words, the Chinese Academy of Sciences was hollowed out.
Some people will ask, in the early years, why did Liu Chuanzhi and Yang Yuanqing not receive sky-high annual salaries and pensions from Lenovo? I reckon it's not that they don't want to take it, it's that the time is not too ripe.
This is a screenshot of Lenovo's 2005-2006 fiscal year annual report, you see, at that time, Lenovo's board of directors had as many as 12 directors, including 3 executive directors, 5 non-executive directors and 4 independent directors, several of whom were foreigners, especially among non-executive directors, outsiders accounted for more than half, and it was not easy to pass the sky-high annual salary and pension.
In 2015, when Yang Yuanqing first topped the list of CEOs of listed companies in Hong Kong and mainland China, it was different, and 5 of the 6 non-executive directors were Lenovo's own people.
Zhu Linan and Zhao Linghuan are the capable generals cultivated by Liu Chuanzhi, second only to Yang Yuanqing and Guo Wei, Ma Xuezheng is Lenovo's former finance minister, and Wu Yibing was also the vice president of Lenovo, but James is a real outsider.
If you think that Liu Chuanzhi and Yang Yuanqing should be satisfied, you are wrong. Over the past decade or so, they have also tried to reduce the size of the board and replace all the core seats with their own people. In Lenovo's latest board of directors, the executive directors and non-executive directors are only Yang Yuanqing, Zhu Linan, and Zhao Linghuan.
Some people will say, what about Legend Holdings? In fact, Legend Holdings is not much better, the Chinese Academy of Sciences is nominally a major shareholder, but there is no sense of existence, the board of directors is also firmly controlled by Lenovo's own people, the two executive directors are Liu Chuanzhi's old subordinates, non-executive directors are also half of the old Lenovo people, the Chinese Academy of Sciences only has two very marginal seats.
There is an old saying that the thief who steals the hook is cursed, and the thief who steals the country is Hou. Many people accidentally get themselves into it in order to get some kickbacks, but the smart people use the mechanism to divide up the public assets, you question a few words, they tell you that this is all approved, the question is, when you apply for approval, do you say please approve us to divide the public assets, or in other names?