Sony Corp. CEO Kazuo Hirai's Annual Pay Rises 74 Percent to $1.6 Million

DOWN: Kaz Hirai

The new Sony CEO doubles the company's projected annual loss to $6.4 billion, its worst ever, and will trim 10,000 jobs. (Big layoffs at the film and TV studios are not expected.)

The conglomerate's boss also received stock options for 200,000 company shares as Sony returned to its first profit in five years.

Sony Corp. CEO Kazuo Hirai's compensation for the conglomerate's fiscal year ending March 31 amounted to $1.6 million (153 million yen), according to a regulatory filing.

He also received rights to acquire 200,000 Sony shares, but no bonus linked to business results.

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In the previous fiscal year, he made 88 million yen, making for a 74 percent gain in the latest year. In the previous year, Hirai also got stock options for 80,000 shares. The higher pay came as Sony returned to its first profit in five years.

Former Sony vice chairman Ryoji Chubachi, who retired last week, received $2 million (194 million yen) in the last fiscal year.

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Executive vp and general counsel Nicole Seligman, who also serves as president of Sony Corp. of America, was the third executive whose pay was listed. She earned $1.3 million (130 million yen) in the latest fiscal year, plus stock options for 30,000 shares.


Twitter: @georgszalai