Former Sony CEO Kaz Hirai's Annual Pay Rose to $18.7M Thanks to $10.7M Retirement Bonus
The pay for Sony Pictures boss Tony Vinciquerra was not detailed in a filing.
Sony's former CEO Kaz Hirai landed a $10.66 million retirement payment last year to add to his $2.2 million base salary and $5.84 million in performance bonuses, for a total compensation package of $18.7 million.
Hirai had earned $9.9 million in the previous fiscal year that ended March 2017, an increase from his $4.9 million in pay for the year before that.
Kenichiro Yoshida, who took over from Hirai on April 1, earned $4 million in his role as chief financial officer and vice president. Hirai is now chairman of Sony Corp.
The figures were revealed in a filing by Sony Corp. with Japanese financial authorities on Tuesday afternoon Tokyo time. The pay for Sony Pictures boss Tony Vinciquerra was not included in the filing, as the new head of the entertainment division is not a corporate executive officer of parent company Sony Corp. as former head Michael Lynton was.
The previous year's figures showed that Lynton earned $11.1 million, including bonuses and stock options, despite logging large losses at the entertainment division, before leaving for Snap Inc. His salary amounted to more than than Hirai received for heading up the entire entertainment and electronics conglomerate.
Sony Corp. recorded a full-year profit of $4.42 million (￥491 billion) for the period to the end of March, its best results in two decades. The pictures division posted profits of $376 million.
The 101st Sony shareholder meeting was held on Tuesday morning, at which its board of directors was confirmed before the pay figures were filed with Japanese authorities as part of Sony Corp.'s financial disclosures.
Sony stock closed down 1 percent in Tokyo at ￥5,306 ($48.35), but it has risen by more than a quarter over the last year.