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Iwata Cuts Salary to Atone for Profit Drop

by Kimberly Keller - January 29, 2014, 2:14 pm PST
Total comments: 8 Source: AFP, http://www.google.com/hostednews/afp/article/ALeqM...

Board members to see pay cut as well.

Nintendo President Satoru Iwata announced that he and other board members will receive a pay cut in their salary for the next five months. The decision came after Nintendo reported a 30 percent decrease in profits today.

Iwata will reduce his salary by half while other board members will receive a 20 to 30 percent pay cut. Earlier this month, Iwata apologized during a shareholder meeting after revealing the downturn, saying "my duty, more than anything else, is to revive our business momentum."

The pay cut could extend beyond June depending on how the company fares. According to Iwata, "I will make a decision after looking at the management situation at that time."

Talkback

ShyGuyJanuary 29, 2014

Honor.

CalibanJanuary 29, 2014

Let's ask Bobby Kotick how much he's willing to cut his pay when business ain't doing so well.

the asylumJanuary 29, 2014

At least Yokoi had sense enough to resign when he tanked an entire division

Mop it upJanuary 29, 2014

Maybe they can count the pay cuts as profit.

Disco StuJanuary 29, 2014

Quote from: the

At least Yokoi had sense enough to resign when he tanked an entire division

Yay uninformed opinions!

ShyGuyJanuary 29, 2014

"President Iwata apologizes for the big cut in its full-year guidance, bows for three seconds."

http://blogs.wsj.com/digits/2014/01/29/live-nintendos-strategy-briefing-to-address-future-direction/

StogiJanuary 29, 2014

Wait...wasn't his salary a buck already or was that for just a year?

OblivionJanuary 29, 2014

That was Steve Jobs. Iwata took a 50% price cut when the 3DS was doing shitty.

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