sinovels Chapter 262 Promotion And Salary Increase For All
Chapter 262 Promotion And Salary Increase For All
certainly.
Lu Yi just read out the candidates for CEO of each subsidiary.
As for the following candidates for vice president, director, etc., Lu Yi did not study for it because it would take too much time.
Anyway, we will notify you by email at that time.
basically.
The senior executives present have all been promoted.
at the same time.
According to the resolution of the board of directors, the CEO of the subsidiary will also receive 0.2% of the equity of the parent company.
Of course.
When Lu Yi recruited Zhang Xiaolong, he promised to give him 1% of the equity, but he no longer had this benefit.
Lu Tongxuan and others were very happy when they heard that they could get 0.2% of the equity.
This means that their net worth has exceeded 100 million overnight!
Others looked at Lu Tongxuan and others with envy.
They also received promotions and salary increases.
For example, the person who was originally the project deputy will become the vice president of the subsidiary company if nothing unexpected happens.
But rather than becoming the company's vice president, they want to get equity in future technology.
0.2% is not an extravagance!
Even if it is 0.1% or even 0.05%, they are willing.
But obviously, this is a bit too much to hope for.
But it also motivates them even more.
As long as they can achieve results and show their own value, the future is not impossible.
after all.
People like Lu Tongxuan who were promoted to CEOs of subsidiaries were previously in charge of various projects and have actually made great contributions to the company.
Although they also contributed part of their strength to this, they were obviously not as big as Lu Tongxuan and others.
otherwise.
Why are they just deputies, while Lu Tongxuan and the others are the project leaders!
Lu Yi always hires people based on their strength, not their relationships.
They were not dissatisfied with being able to become their immediate superiors, just because of Lu Tongxuan's ability!
After announcing the candidate for the CEO of the subsidiary, Lu Yi began to announce the job changes of the core senior management of the parent company Future Group.
Naturally, there will be no changes at the helm of the group, Lu Yi.
we can even say.
Future Group can lose any other core executive, but Lu Yi must not be lost.
Because the soul of Future Group is none other than Lu Yi!
Only Lu Yi has the strength and ability to control the first aircraft carrier of the Future Group.
Even Lu Qi, who is the COO, can’t do it!
Lu Qi's position has not changed much. He is still the COO, director, vice chairman, president of Greater China and global joint executive vice president of the parent company Future Group.
George Edward serves as the co-president and group director of Future Group Americas, and is fully responsible for the business of the group company and its subsidiaries in the Americas.
Tini Fatla serves as co-president of Europe and group director, and is fully responsible for the business of the group company and its subsidiaries in Europe.
Yu Jun serves as the CTO and director of the group company.
Lin Qingya serves as the CLO and director of the group company.
Lan Lan serves as the CFO director of the group company.
basically.
The positions of Yu Jun, Lin Qingya, and Lan Lan have not changed much, but the company has been upgraded to a group.
after.
Lu Yi also talked about the ‘partnership system’ and the ‘all-employee stock ownership plan’.
This was all approved by a vote of the board of directors, and the senior management present had no right to object.
certainly.
They won't object.
Like the 'partnership system', a rigid requirement is that you need to hold company equity (restricted sales requirement) to become a partner.
When you become a partner of a company, you have the right to nominate directors and appoint additional directors.
This is very good for Lu Tongxuan and other subsidiary CEOs.
They now own 0.2% of the company's equity and meet the mandatory requirements to become a partner of the company.
This means that they will have the opportunity to become board members of the company group in the future!
The board of directors of the company group is the real decision-making core of the entire group!
In addition to the right to nominate directors and the right to nominate and appoint partners, partners also have the right to distribute bonuses.
The group pays bonuses to company management, including company partners, every year. The bonuses are recorded before tax.
This means that the partners’ bonus distribution rights will be different from the shareholders’ dividend distribution rights.
Shareholder dividends are distributed from after-tax profits, while bonus distributions to partners will be treated as management expenses.
The ‘Partner Committee’ consists of six members, namely Lu Yi, Lan Lan, Lin Qingya, Lu Qi, Yu Jun and George Edward.
The Partners Committee has the right to review the nomination of new partners and arrange their election, and to recommend and nominate candidates for directors.
Committee members are elected through differential elections and can be re-elected for a term of three years.
As for the "all-employee stock ownership plan", it does not mean that all employees who enter the company hold shares in the company, but it refers to the stock ownership plan for all employees of the company.
certainly.
The shares here are just virtual shares of the company.
Specifically, employees who meet certain conditions are eligible to hold a certain number or proportion of the company's virtual shares. Although employees who do not meet the corresponding conditions are temporarily unable to hold the company's virtual shares, they are expected to hold them in the future.
The ‘full employee stock ownership plan’ is actually very similar to a flower factory.
Of course.
When Lu Yi and Lin Qingya discussed the design of this incentive plan, they largely referred to the flower factory's method, but it was by no means a complete copy. It can only be said to be a variant of the flower factory's virtual equity.
certainly.
This 'full stock ownership' plan is limited to middle and low-level managers and grassroots employees.
As for senior executives like you here, the reward system is different from this.
after.
Lu Yi also talked about the adjusted management positions.
There are still two sequences, P and M.
In the P sequence, the range from P3 junior engineer to P9 senior expert remains unchanged.
And P10 changed from the original researcher/chief scientist to P10 | researcher.
Go up to P11 senior researchers.
P12 senior researcher.
P13 is a scientist.
P14 senior scientists.
And the M management sequence [tweaks quite a bit.
M1 is still the supervisor level, and the corresponding technical position is still P6 senior engineer.
M2 is the manager level.
M3 is a senior manager.
M4 and M5 are directors and senior directors.
When it comes to M6, it’s vice president level.
M7 is the senior vice president.
M8 is the executive vice president.
M9 is the vice chairman.
M10 is the chairman.
Two people like George Edward and Tiny Fatra are at the M8 executive vice president level, in charge of the business in the Americas and Europe. The presidents of subsidiaries need to report their work to them.
Lu Tongxuan, the president of these subsidiaries, is at the level of senior vice president of M7.
Not only has the rank system been adjusted, but the salary has also been adjusted.
For junior engineers at the P4 level, the salary has been increased to a starting annual salary of 80,000 yuan, and the highest annual salary can be 100,000 yuan.
The salary of P5 intermediate engineers is 10~15W annual salary.
Senior engineers or supervisors have an annual salary of 20-25W.
The annual salary for experts or managers starts at 30W.
When you reach the manager level, you are basically considered a senior executive in the company.
Different from the reward mechanism for middle and low-level employees, the reward mechanism for high-level employees is allotment of shares, not virtual shares.
According to Lu Yi's design, managers can allocate 800 to 1,200 shares.
The maximum allotment can reach 12,000 shares, but the rank needs to reach the P10 researcher level or the M5 senior director level. The annual salary plus allotment dividends can reach an income of more than 2 million.
As for going up to the vice president level, you need to discuss equity with Lu Yi.
At the level of vice president, this is the absolute top level!