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

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Comments

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

Submitted by ecco6t9 on Thu, 06/30/2011 - 15:06.

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

Submitted by Neo_DrKefka on Thu, 06/30/2011 - 09:53.

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

Submitted by Chirmaya on Wed, 06/29/2011 - 22:27.

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

Submitted by Erik on Wed, 06/29/2011 - 20:06.

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

Submitted by SpiralGray on Wed, 06/29/2011 - 21:25.

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.

Shout box

Technogeek: If the developer were male there wouldn't have been a "conversation" in the first place.10/19/2014 - 2:27am

Monte: trolls are just at their absolute worst when it comes to women and feminist. You could bet good money that if the developer were male the trolls would be silent and the conversation would actually focus on the journalism.10/18/2014 - 9:18pm

Monte: Papa: Not the first time we've had a journalism scandals before, but the harassment never got close to this level; the difference with this scandal is that feminists are involved. Without the feminist angle, their would be A LOT less harrassment10/18/2014 - 9:15pm

Papa Midnight: Monte: That's honestly rather short-sighted. As has been proven with other persons who have been targeted, if it wasn't Quinn, it would be someone else.10/18/2014 - 6:26pm

Avalongod: I think that's part of what gives an esoteric news story like this real life...it taps into a larger narrative about misogyny in society outside of games.10/18/2014 - 3:29pm

Avalongod: @Monte, well the trolls made death threats that came to police (and media attention). I think this is tapping into a larger issue outside of games about how women are treated in society (like all the "real rape" stuff during the last election)10/18/2014 - 3:28pm

Wonderkarp: Zippy : Havent tried the PS4 controller. might later.10/18/2014 - 2:37pm

Monte: Seirously, If Quinn was not involved and GG was instead about something like the Mordor Marketing contracts, the trolling would have never grown so vile and disgusting. There have been plenty of movements in the past that never sufferred from behavior..10/18/2014 - 1:57pm

Monte: We have seen scandel's before but the trolling has never been as vile as what we see with GG. Trolls usually have such a tiny voice you can barely notice them, but its like moths to a flame whenever femistist are involved.10/18/2014 - 1:53pm

ZippyDSMlee: Wonderkarp: You might be able to if you had a PS4 controller.10/18/2014 - 1:00pm

MaskedPixelante: http://store.steampowered.com/app/327940/ Night Dive starts charging for freeware.10/18/2014 - 12:21pm

Matthew Wilson: the sad thing is there are trolls on both sides of this. people need to stop acting like their side is so pure.10/18/2014 - 12:19pm

MechaTama31: So, only speak out on a scandal that hasn't attracted trolls? I wouldn't hold my breath...10/18/2014 - 10:49am

Monte: I feel like GG just needs to die. The movement is FAR to tainted by hatred and BS for it to be useful for any conversation. Let GG die, and then rally behind the NEXT gaming journalism scandal, and start the conversation fresh.10/18/2014 - 10:33am

quiknkold: and we dont have a Dovakin to call a cease fire10/17/2014 - 7:37pm

quiknkold: The whole thing is Futile. Both sides are so buried deep in their trenchs that there isnt a conversation. Its just Finger Pointing, Name Calling, Doxxing, Threats. there needs to be a serious conversation, and GG isnt it.10/17/2014 - 7:37pm

quiknkold: I thought it was a good article. Jeff is right. I feel like GamerGate did destroy its message. I am for Ethics in game journalism, but man. so much hate. and its on both sides. I've seen some awful stuff spewed on twitter. Its a big reason why I exited..10/17/2014 - 7:34pm

Matthew Wilson: while he focused on gg, he did call out both sides crap.10/17/2014 - 7:18pm

Papa Midnight: That was a damn good read offered by Jeff Gertsmann.10/17/2014 - 7:17pm

Matthew Wilson: http://www.giantbomb.com/articles/letter-from-the-editor-10-17-2014/1100-5049/ deferentially a nice write up.10/17/2014 - 6:44pm

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