Satoru Iwata will take a 50% pay cut - Nintendo Everything

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Satoru Iwata will take a 50% pay cut

Posted on January 29, 2014 by (@NE_Brian) in General Nintendo, News, Podcast Stories

Satoru Iwata

Back in July 2011, Nintendo president Satoru Iwata announced that he would be taking a 50 percent pay cut following poor 3DS sales. With the Wii U now facing a similar situation, Iwata is making a similar move.

Iwata will once again take a 50 percent pay cut, it’s been confirmed as part of Nintendo’s most recent financial results. Japanese publication Nikkei reports that his salary will be reduced from the period of February until June.

Nintendo’s two other representative directors, Genyo Takeda and Shigeru Miyamoto, will be taking a 30 percent cut as well. All other board directors, including Tatsumi Kimishima, Kaoru Takemura, Shigeyuki Takahashi, Satoshi Yamato, Susumu Tanaka, Shinya Takahashi, and Hirokazu Shinshi, will take a 20 percent reduction.

According to Iwata, Nintendo will evaluate future salaries based on the business environment at that time.

Source, Via

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  • sonicfan1373

    Nice gesture on Iwata’s part and a fair way to take responsibility. It will show shareholders he is interested in financial revival first as opposed to personal profiting.

  • Jumwa

    It boggles my mind that this isn’t something all CEOs and upper management are forced to do, but good for them in taking some modicum of responsibility.

    • elreins

      It boggles of as well and I wonder why The president of my country and the whole congress won’t take a 100% cut. Their performance is worth nothing.

      • Funballons

        Zing! 🙂

    • Carlos

      Because most companies CEOs only care about money. As long as they’re making money they don’t care about getting rid of people or doing other things to “help” the company.

  • ecoutercavalier

    This is unnecessary. It’s like Iwata is taking blame for the state of the entire video game industry. No one is meeting sales projections in the console business.

  • Funballons

    Just a BS PR stunt. He gets millions in stocks, a 50% cut in pay is pocket change. Nintendo is a joke.

    • eh

      You’d prefer he take zero accountability or fire employees after such poor financial results like most other CEO’s?

  • Daisy Mae

    I still don’t think he’ll suffer very much.. 😛

  • wampdog29

    Too bad government officials don’t do this in the U.S……

  • This shows they all care enough about this company to make sacrifices. Much respect to all of them.