Sony: Executives decline bonuses again

Comment on this story

Sony would not pay bonuses to senior executives for the third consecutive year, the struggling electronics giant said yesterday, as it braced for another disastrous earnings showing. It will release annual results today. The move meant president Kazuo Hirai would not have received any bonuses since he became chief executive in 2012, a Sony spokeswoman said. Several top executives would follow suit, while dozens of other senior officials, including those in charge of the troubled electronics divisions, were expected to be left off the bonus list for a second year. “Our top management proposed to return their bonuses and that was accepted… as appropriate,” the spokeswoman said. Japanese reports said bonuses typically made up between 35 percent and 50 percent of an executive’s remuneration, with the Nikkei business daily saying the value of the bonuses that would not be paid this year could be ¥1 billion (R102 million). – Sapa-AFP

sign up

Comment Guidelines

  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.

  5. Verified email addresses: All users on Independent Media news sites are now required to have a verified email address before being allowed to comment on articles. You are only required to verify your email address once to have full access to commenting on articles. For more information please read our comment guidelines