News: Xiaomi gives $1.5 billion bonus to CEO ahead of IPO

C-Suite

Xiaomi gives $1.5 billion bonus to CEO ahead of IPO

The board member of the company highlighted that the reward was not tied to any performance goals in the future.
Xiaomi gives $1.5 billion bonus to CEO ahead of IPO

Chinese smartphone maker Xiaomi Corp recently gave his founder and Chief Executive Officer a hefty bonus of $1.5 billion on the stock. Considerably, this is one of the most significant corporate bonuses in the history. This reward is for his outstanding contribution to the country. 

According to a media report, in the security filing, the company said that it has recently awarded the stock to a separate company controlled by founder and the CEO, Lei Jun

The board member of the company highlighted that the reward was not tied to any performance goals in the future. The company's co-founder and president on Saturday defended the board's stand of awarding Lei the stocks saying that Xiaomi wasn't the first company to do so.

Xiaomi is likely to raise a sum of $6.1 billion in the IPO at Hong Kong stock exchange. If Xiaomi's IPO goes as per the expectations, Lei's stock award would be worth anywhere between $1.38 billion and $1.79 billion. 

 

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Topics: C-Suite, #Corporate

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