Remember back in 2014 when Sony CEO (and former PlayStation boss) Kazuo Hirai and other top Sony execs cut their salaries due to the company’s struggling fortunes? Well, it seems that’s not the case anymore.
For fiscal year ending March 31, 2016, Sony CEO Kaz Hirai’s annual pay more than doubled to the tune of $4.9 million according to a securities filing report to Japanese authorities. This includes performance-based pay, but not stock options. The $4.9 million amount is 2.5 times bigger than his pay last year, and beats the company record of $4.6 million set by former Sony CEO Howard Stringer in March 2010.
The huge pay bump is attributed to Sony’s return to profit for the first time in three years following a period of restructuring where thousands of workers were laid off.
I gather, all those sold PlayStation 4’s kinda helped, no? It didn’t hurt that it was already profitable back then, which is stark contrast to how consoles were sold before where companies had to take in losses per unit sold just to get the installed base up.
[Source: Variety]
