It hasn’t been a good year for Sony, which has been reeling from the Japanese earthquake and tsunami and hacker attacks on its PlayStation Network that the company said will cost it $2 billion in operating profit this fiscal year. Now the problems have reached Howard Stringer’s office: The Sony chairman received 15% less compensation for the 12 months ending March 31, the company said in government filings today, putting his salary and bonuses at $4.3 million (his second in command and likely successor, Kazuo Hirai, also got a pay cut). Sony’s stock has fallen 29% since the earthquake March 11; the company has reported three consecutive annual losses. According to Bloomberg, Stringer has overseen the loss of more than 37% of Sony’s market value over the six years ended March 31 since he was made chairman and CEO.
Sony Boss Howard Stringer Sees Pay Cut
What's Hot on Deadline
Hollywood Cowardice: George Clooney Explains Why Sony Stood Alone In North Korean Cyberterror Attack
More From Team
- Did U.S. Strike Back For Sony Hack? Massive North Korea Internet Outages Reported
- Jeff Zucker: CNN Had Terrific Year, Though “Not Without Its Challenges”
- Disney & Cable Operators Ink Retrans Deal For ABC-Owned Stations
- Alexandre Desplat On 'The Imitation Game': “I Was Moved By What Was Onscreen”
- Katherine McNamara Books 'The Maze Runner 2′ & 'Indiscretion'