Nintendo CEO Takes 50% Pay Cut

[Hungry Donner]

Japan's economy certainly has its problems, but their CEOs certainly seem far more ready to accept responsibility like this (and from what I've been told even when times are good their salaries aren't too ostentatious compared to American CEOs).

 

[Not G. Ivingname]

What kind of bizarro universe is this news report from?! A CEO taking a pay cut for failing to do their job correctly?!

I don't know how things work in Nintendo, but here in North America when a CEO bungles something horribly, we give him pay raises and government bail out money.

Japanese business is more "honorable" in the name of forming good business relations. Sign a contract with a Japanese company, and they won't try to "change" the deal or not follow through. It has to do with the cultural background of the nation and their self image. They also don't want all their investors to die of a heart attack from the news.

Apparently you never heard the story about how the Sony Playstation came into existence?

Yeah, Sony made the playstation partly as their honor bound revenge against Nintendo's disownerable acts, and considering how well the Sony systems did compared to the Nintendo (till the Wii) they succeed.

 

[Gladiateher]

What struck me odd about this story is not that he took the pay cut, that's extremely admirable though, but that he was making less than two million a year as CEO of Nintendo? That's truly surprising to me.

 

[duchaked]

well it's nice to see some people take responsibility. props to Nintendo's CEO...or Japanese something or another

 

[kasperbbs]

Well thats odd, most CEO's would rather fire half of their staff before taking a cut from their salary. I wish my government did things this way, so they would actually try to improve things here instead of thinking of o way how to get more money or what expensive car to rent to drive to work on our taxes. I have no interest in nintendos products but i like the way they do business, hopefully 3DS will get some games soon and wont be just an expensive 3D demo.

 

[Silva]

So he's getting richer a bit slower.

Yes, it's better than the American model of things. But in a serious supranational company like Nintendo, one would idealise the sacking of incompetent CEOs, rather than the lowering of pay packet size.

I understand that Iwata has some charisma to his approaches though, so I guess it is a fair compromise in this case.

 

[RelexCryo]

I am impressed. You have impressed me, Satoru Iwata.

 

[Void Droid]

*Respectfully bows to Satoru Iwata*

Now I just hope that was respectful and not racist.

 

[Reincarnatedwolfgod]

wow that impressive a ceo taking responsibility and a pay cut... if only more american ceo's did that. that being said he does deserve a little respect. he is still making good money but less and that means something.

i would like to see an american ceo do this next but will never happen because of greed.

in unrelated new the old captcha it back sort of better then the one that replaced it earlier

 

[Robert Abramski]

Seems the Japanese have a better idea of what constitutes austerity measures. Fifty percent is quite a pay cut. I wish some of the banks would just stop giving themselves bonuses. We need to tell the executives that if they share in the successes, they need to share in the faults as well. http://www.ceopaycut.org