Sony Chairman Takes Pay Cut

Jun 29, 2011  •  Post A Comment

Sony Corp. Chairman Howard Stringer saw his salary and bonus drop for the 12 months ended March 31, reports Bloomberg, citing government filings. His compensation was down 15%.

Stringer’s pay dropped to 345 million yen (or $4.3 million) from 408 million yen (or $5 million).

Stringer’s likely successor also saw his pay cut. Executive Deputy President Kazuo Hirai saw his pay decline to 101 million yen (or $1.25 million) from 110 million yen (or $1.36 million).

The cuts come as the company is struggling to recover from the second-largest online data breach in U.S. history and as Japan recovers from its biggest earthquake, the piece adds. Sony’s divisions have also been moving too slowly to deal with competition in televisions, tablet computers and other products, the article points out, citing Deutsche Bank analyst Yasuo Nakane.

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