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[onken]

Just came through on the wire, expect public stories soon. Pretty nuts.

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Mod Abuse:

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.

 

[Card Boy]

*Iwata cries*

 

[Hero of Legend]

So that's what, down to 25% from prior to 3DS?

 

[coolasj19]

The Wire? Isn't that a really good TV show? This is expected, and good news for Nintendo's bottom line.

 

[Anth0ny]

Another paycut?

this guy

 

[Breakfast at Noon]

"nintendo saved"

 

[nib95]

So how much is he on after this cut? In dollar terms.

 

[JoeyJungle]

Again?!

 

[Graphics Horse]

So that's what, down to 25% from prior to 3DS?

I don't think that was still in effect (guessing)
But the last time he did that, the failing platform got a big price slash. Hmm..

 

[SuperSah]

NintenDOOM.

 

[Prine]

He's hopeless, should be demoted.

 

[Sho_Nuff82]

A nice symbolic gesture, but I don't see it making a difference without something drastic announced on Thursday.

 

[xValentine]

Well deserved.

 

[And_Gignac]

How about a 100% paycut? j/k

Stay strong, Mr. Iwata.

 

[HawthorneKitty]

What a responsible person.
I believe in you Iwata.

 

[Minion101]

Most CEOs get the boot.

 

[kairu]

Its fine, his 3DS can print him all the money he needs.

 

[Zombie James]

How's this supposed to help, exactly?

 

[Chuck]

yeah that'll turn the company around. him getting less money will definitely improve his decisions.

 

[SwiftDeath]

Well that's an interesting move. Not exactly one of confidence

 

[NateDrake]

So how much is he on after this cut? In dollar terms.

In 2012, Iwata's salary was $1.7 million.

 

[cafemomo]

How's this supposed to help, exactly?

Nothing. It's just a gesture of good will

His job should be getting the cutting not his paycheck

 

[GamerSoul]

Ouch man. If anything he's loyal.

 

[REV 09]

so you're saying he's...worth less

 

[NotLiquid]

Wii U is saved

 

[freenudemacusers]

At this rate, he'll be paying nintendo to work in 5 years.

 

[NMFried]

Was this a forced pay cut or a voluntary one? I'm unsure as to how this works.

 

[JoeM86]

How's this supposed to help, exactly?

yeah that'll turn the company around.

Nobody said it would? Taking a paycut is an act of accepting responsibility for issues.

 

[Majine]

They must have REALLY low expectations going forward if that's the solution.

 

[Mihael Mello Keehl]

Good, now how much does he make?

 

[redmetal86]

This is number 2?

 

[KNT-Zero]

It's a nice way to act, considering the fact that he is not firing anyone during these hard times for the company. Go Iwata!

 

[AniHawk]

Most CEOs get the boot.

along with millions upon millions of dollars.

so you're saying he's...worth less

this is excellent. i am pointing to it because it is excellent.

 

[Sendou]

Was this a forced pay cut or a voluntary one? I'm unsure as to how this works.

Voluntary

 

[IdreamofHIME]

Didn't he already do this?

 

[Chris R]

Surprised he still has his job.

 

[Gorillaz]

Still employed but 50 percent cut in pay

wut

 

[StreetsAhead]

How's this supposed to help, exactly?

Largely symbolic gesture to demonstrate his commitment to bringing the company back to profit over personal financial gain to curry favor with investors in it for the long-term/dividends?

 

[Guinness]

Please understand that we don't care how much you are payed Iwata.

We want more good WiiU games, that's it. The next Nintendo Direct better be awesome.

 

[sfedai0]

How bout taking no salary until this sinking ship is righted?

 

[methodman]

By next year I'll be making more than iwata at 60k a year lol

 

[rpmurphy]

Isn't this pretty common with Japanese companies? Here in the US, I think there's just layoffs and the CEO gets a bonus.

 

[Graphics Horse]

Other thread says it lasts until June.

 

[Gamer @ Heart]

Are there more examples of other Japanese firm CEOs doing stuff like this or do they just normally "retire"?

 

[liger05]

Its a nice gesture but dude stop failing.

 

[nib95]

In 2012, Iwata's salary was $1.7 million.

Oh. Lol.

 

[Hermii]

I dont think any overpaid American CEO would do this.

 

[mrjohill]

Man a 50% paycut is crazy

 

[Forceatowulf]

Heh, If he was American he would have probably given himself a 50% pay increase or a fat juicy bonus.

 

[Chinner]

the amount of damage iwata will do will cost far more than what this pay cut will save.