Tim cook reduced his pay by 4 million last year
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Iwata announces pay reduction for the entire Nintendo board from Feb to June
- Thread starter onken
- Start date
Here are the specifics:
The entire board is taking pay reductions from the period of Feb until June. Iwata is taking a 50% reduction as the company president. The two other representative directors, Genyo Takeda and Shigeru Miyamoto, will be taking a 30% reduction. All remaining directors on the board will take a 20% reduction. These include Tatsumi Kimishima, Kaoru Takemura, Shigeyuki Takahashi, Satoshi Yamato, Susumu Tanaka, Shinya Takahashi, and Hirokazu Shinshi.
Iwata says that beyond June, they will decide based on the business environment at that time.
The entire board is taking pay reductions from the period of Feb until June. Iwata is taking a 50% reduction as the company president. The two other representative directors, Genyo Takeda and Shigeru Miyamoto, will be taking a 30% reduction. All remaining directors on the board will take a 20% reduction. These include Tatsumi Kimishima, Kaoru Takemura, Shigeyuki Takahashi, Satoshi Yamato, Susumu Tanaka, Shinya Takahashi, and Hirokazu Shinshi.
Iwata says that beyond June, they will decide based on the business environment at that time.
codswallop
Member
He'll be down to $1 a year at this rate. Worked* for Ellison and Jobs, I guess.
...and yeah, it's not uncommon in Japan.
...and yeah, it's not uncommon in Japan.
Black Door
Banned
"Now it's eating my money..."
And made half the staff redundant.
Thanks for the update.
And laid off a bunch of staff
sadly nintendo isn't a company of western culture.
The writing is on the wall and unless they change this is just another step towards what happened to other giants in the industry.
I don't see the points in these pay cuts, outside of a very insincere gesture. Nintendo needs real change unfortunately they have ignored simple advice basically since the n64 era on how to fix them. This generation is proof they still think they can get away with something that made them big. Funny for a company that admires apple they in no way can adapt or copy like apple does.
Not all American companies are Blackberry
which is canadian
Actually Nintendo is quite like Blackberry in many respects ATM.
Last time he took a pay cut he slashed the 3ds price and admitted he read the market incorrectly. 3ds has done really well since. I wonder if they slash price along with removing the Wii U game pad like we've been guessing or a huge price slash with the game pad still included.
MetalGuardian
Banned
I like it. It doesn't do anything to help sales, but it certainly shows a level of humility and responsibility acceptance. This is part of why I love Iwata... he always seems incredibly genuine. This is the second time he's taken a voluntary 50% salary cut in an act of good faith to show that he isn't trying to pass the blame onto somebody else.
How many other presidents of billion dollar companies have you seen voluntarily do this? I can't think of any. Despite all of the poor Wii U decisions that has been made, Iwata's attitude towards gaming is one of the most devout in the biz, and that isn't a quality that can be easily replaced if he resigns.
How many other presidents of billion dollar companies have you seen voluntarily do this? I can't think of any. Despite all of the poor Wii U decisions that has been made, Iwata's attitude towards gaming is one of the most devout in the biz, and that isn't a quality that can be easily replaced if he resigns.
BoboBrazil
Member
this is stupid. the problem isn't how much he gets paid the problem is iwata, this is nothing other than an I'm sorry please understand
A surprisingly high number of American CEO's make their money via stock options. They don't care about their salaries as much as you might think.
StreetsAhead
Member
Yes, if only the company was more Western.
Maybe Tom Cruise or Keanu Reeves can come save them?
And_Gignac
Member
June is when the real party begins. Things are only getting worse by then; heads will roll.
I heard he took a pay but everyone at nintendo, now this might shake things up a little.
The problem isn't hard to fix nintendo.
Get real software and engineers to bring your online model up to speed. Take real advice from them and consumers cause nobody even in pc land is perfect on this. Actually get your shop up to speed and get your products on it. Flipping sad between the online dd and mobile markets you can't actually get a lot of older products up and running that would bring in revenue. The fact this company hasn't, has me and probably others going wtf at all that missed opportunity. Infact I'm surprised more in the media aren't bringing this point up at all.
Owell I'm hoping again and nintendo inevitably in this form will just crush it again.
Heaven forbid the snarkyness.
The point was simple and we all know it here iwata and the board are insulated and there is very little change we can hope for outside investors making big moves. If iwata had to fear being fired like most western ceos I doubt he would behave half as foolish as he does with the company in certain areas.
The problem isn't hard to fix nintendo.
Get real software and engineers to bring your online model up to speed. Take real advice from them and consumers cause nobody even in pc land is perfect on this. Actually get your shop up to speed and get your products on it. Flipping sad between the online dd and mobile markets you can't actually get a lot of older products up and running that would bring in revenue. The fact this company hasn't, has me and probably others going wtf at all that missed opportunity. Infact I'm surprised more in the media aren't bringing this point up at all.
Owell I'm hoping again and nintendo inevitably in this form will just crush it again.
Heaven forbid the snarkyness.
The point was simple and we all know it here iwata and the board are insulated and there is very little change we can hope for outside investors making big moves. If iwata had to fear being fired like most western ceos I doubt he would behave half as foolish as he does with the company in certain areas.
This is par for the course for Japanese companies.
xValentine
Member
I'm imagining now what happens when every game that's going to be released on the WiiU won't be able to save it.
people want him to take responsibly for issues by resigning his position.
Yeah's at about 25% of what he was making acouple years ago.
Crazypanda_85
Member
Man, some of you guys are harsh. Iwata isn't the only decision maker at Nintendo and he is putting forth a serious effort. Please don't be too hard on the failures/mishaps of others. I can only respect him for taking a personal cut to his finances when his company is suffering a loss (most of us would not even consider doing this). Iwata did bring us the successful DS consoles and Wii so his successes far outweigh his losses to Nintendo and their investors. I wouldn't count him out just yet.
That's not taking responsibility...that's running away.
Good guy Iwata.
And who said otherwise? Do you really expect this to be the only measure they'll be taking?
God it's like some people really complain for the sake of complaining lol
Alright that's more fair. Imo, it wouldn't be fair if Miyamoto didn't get touched.. I wonder if their studios are feeling any of this pressure...
Graphics Horse
Member
It wouldn't work, Nintendo are Ninja, not Samurai.
Hours Left
Member
This isn't their "solution", it's a gesture to show they are treating the current situation with some sobering reality and taking personal responsibility.
Of course there will be more actions taken.
Of course there will be more actions taken.
I'm sure the people who actually have a stake in the company want to see what the plan is going forward rather than just kicking him out going from there.
No, that's fixing the problem.
He isn't a Samurai! lol He is a ceo of a large company. If he keeps failing he steps down to let someone else take control in an attempt to steer things in a new/right direction
and no 'bu bu what if the next guy is also bad?' is not a good counter to this
Opinionatedfish
Member
This is correct.
So you think the main problem with Nintnedo is Iwata and firing him would fix everything?
Mihael Mello Keehl
Banned
Lol like you know haha
BoboBrazil
Member
I can only go off known info and past experience with what this guy gas done. a CEO is supposed to plan for the future and increase earning every year, iwata has shown a lack of foresight in ignoring the gaming tendencies of the largest gaming market and planning for the future by buying up more developers to increase output, he's also shown to try to ride a fad or gimmick wave with hardware. he's a horrible leader for the company
You can't see why new leadership could potentially be a good thing for the company? How long do you think in your opinion he should keep trying to 'fix' things?
