Sony: Executives decline bonuses again

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