Print 5 comment(s) - last by someguy123.. on Jun 29 at 5:03 PM

Kazuo Hirai  (Source:
Kazuo Hirai, president and group CEO of Sony Computer Entertainment Inc. (SCEI), will relieve himself of his current position and become chairman of the video games unit on September 1

Sony was undoubtedly one of the largest targets during the string of hacks that occurred thus far in 2011. Several sectors of the consumer electronics company were hacked, including the PlayStation Network, the Sony Online Entertainment (SOE) database, the Sony Sweepstakes site, Sony BMG Greece website, Sony's Japanese websites, Sony Canada, Sony BMG Netherlands, Sony BMG Belgium, and Sony Pictures Russia. 

These hacks placed a bright spotlight on Sony's security issues, and have caused a lot of trouble for the company. Just yesterday, several investors called on Sony Chief Executive Sir Howard Stringer to step down, since his ways of running the company threw it into this disaster. 

But Stringer refused to do so. Instead, he took a 16 percent pay cut in the "just ended" fiscal year. 

Now, Kazuo Hirai, president and group CEO of Sony Computer Entertainment Inc. (SCEI), will become chairman of the video games unit on September 1. He will be replacing SCEI Chairman Akira Sato, who is retiring on August 31. Briton Andrew House, who is currently the head of the video games unit's European branch, will take over as the new president and CEO of SCEI on September 1 as well. 

While this may seem like a setback for Hirai, analysts see it as a way to move Hirai into a position that will eventually allow him to run the company, since Hirai is a prime candidate to succeed Stringer. 

"He's in pole position to head the whole company, so he needs to focus on that, which is probably why they sought out a successor for the video games business," said analyst Nobuo Kurahashi of Mizuho Investors' Securities.

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16% pay cut
By Mitch101 on 6/29/2011 12:34:19 PM , Rating: 2
Does anyone at that level care about their paycheck especially a mere 16%. Seems most people at that level only care about the bonus they receive the paycheck they can hand off to the kids.

RE: 16% pay cut
By Pirks on 6/29/2011 1:08:33 PM , Rating: 3
Yeah, Stringer will cry now 'cause he won't be able to afford 5th or 6th Bugatti or something. What a nasty sh1t the life of a CEO is, right Howard? :)))

RE: 16% pay cut
By adiposity on 6/29/2011 2:02:00 PM , Rating: 2
For anyone, a 16% paycut is huge. The more money they make, the more significant it is.

The question is, how much would it take to feel it? And the answer is, even if he didn't get a dime he probably wouldn't feel it.

If you feel the 16% of his paycheck is meaningless, though, I'll happily cash a check for that amount if you send it to me. :)

RE: 16% pay cut
By someguy123 on 6/29/2011 5:03:51 PM , Rating: 2
The point he was trying to make is that their "bonuses" surpass their salary by far.

They could take a 100% paycheck hit and they wouldn't bat an eye. They would do some accounting tricks and get it back via bonuses.

By T2k on 6/29/2011 2:20:45 PM , Rating: 3
Stringer is an absolutly unabashed rotten scumbag, a true corporate parasite, a crooked piece of shit - he should be kicked out of Sony forcefully, through the window, with head first; Stringer is AN ROYAL, UTTER FAILURE so far.

"I want people to see my movies in the best formats possible. For [Paramount] to deny people who have Blu-ray sucks!" -- Movie Director Michael Bay

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