Sony: CEO Took 16 Percent Pay Cut Last Year

June 29, 2011 -

Sony CEO Howard Stringer took a 16 percent pay cut last year, the company announced at its shareholder meeting on Tuesday. Sony said that Stringer's salary and bonuses fell to right around 345 million yen, or roughly $4,268,807 (according to currency conversion site XE.com). Earlier in the week shareholders asked Stringer to resign from his post as CEO. Obviously Sony and Stringer are not entertaining that idea at all.

The shareholder anger is directly related to the security breach in April, Sony's handling of the situation, and the inevitable price tag, which the company estimates at $14 billion yen.

Stringer tried to console investors by saying that since the PlayStation Network came back online, around 90 percent of its subscribers have returned and he apologized for how the company dealt with the security breach.

Source: BBC

 


Comments

Re: Sony: CEO Took 16 Percent Pay Cut Last Year

They call everyone of their ideas "Million Dollar Ideas" it will either make or lose millions if it's the latter cost even more millions to fire the guy.

Re: Sony: CEO Took 16 Percent Pay Cut Last Year

Bottom line CEO's suck they stretch out what they can do for so little and then turn the company into shit for an example please see SEARS

Re: Sony: CEO Took 16 Percent Pay Cut Last Year

You did the currency conversion incorrectly. 36 million yen is about 447,550.76 USD according to that site. You can always get a ballpark guess by pretending yen are pennies, which would work out to 360,000.

Re: Sony: CEO Took 16 Percent Pay Cut Last Year

I think even if he took a 99% pay cut he would be okay.  I have a hard time feeling any sympathy for someone who lost more money in a year than I will make in a lifetime.

-Ultimately what will do in mankind is a person's fear of their own freedom-

Re: Sony: CEO Took 16 Percent Pay Cut Last Year

Working the math backwards, his pay cut amounted to roughly $813,106. To put that in perspective, a person making $24k a year would require 33 years to earn that much money.

I'm with you, I can't really muster any sympathy for the guy.

 
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Neo_DrKefkawith a neutral party Moderating it. I've been waiting a long time for a GamerGate to happen but now all I want is the healing to start. Weird huh? Gamers don't need to be attacking gamers we should all be on the same side10/24/2014 - 12:39am
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Matthew Wilsonjames needs to contact Totalbiscuit than10/23/2014 - 10:07pm
Neo_DrKefkaJames said earlier he went into a stream earlier informed them who he was and they didn't care. If James is trying to talk lets set something up?10/23/2014 - 9:38pm
Matthew WilsonTotalbiscuit has been trying for months, no one that is anti gg seems to want to talk with him on camera10/23/2014 - 9:20pm
Neo_DrKefkaHey James check your twitter. Check with Totalbiscuit see if you can get a round table discussion stream going see if he can get some pro gg people and you can get some gamejournopros. Both sides have been hurt, doxxed its time every1 sits down and talks10/23/2014 - 9:05pm
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prh99Rather than trying to spin it as some sort of artistic choice, they should just say they don't want to rework the engine to either decouple the mechanics or make them work at 60fps.10/23/2014 - 5:25pm
Matthew Wilsonubisoft is made to look worse now. wiiu smash is 1080p 60fps lol10/23/2014 - 5:02pm
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