Yamaha Motors continues salary reduction for directors, execs
TOKYO —
Yamaha Motor Co Ltd has announced that it will continue this year the reduced remuneration for directors and executive officers the company implemented last year. On top of that, directors and executive Officers will also not receive bonuses. In particular, directors will have a 15 to 30% reduction in monthly remuneration, while executive officers will have 15% reduction in their monthly remuneration.
Yamaha will also continue to accept the corporate auditors’ offer to forgo 20% of their salaries. The salary reduction will remain effective from January through June, after which they will be evaluated in light of the business environment and results.
Japan Corporate News Network
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DenTok2009
Good for Yamaha. Back in the U.S., I never understood the reasoning for directors and executive officers' exorbitant salaries to continue while slashing the worker bees. I can't accept the "companies can not attract good leaders without offering executive level pay". How can you continue to run a company in these harsh times when you have golden parachute but you are slashing the peons' benefits?
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Ranger_Miffy
Good for Yamaha! USA should follow. Never going to happen.
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Foxie
All the best to Yamaha, truly a great company. I pray for you to get tons of good business this year and am looking forward to seeing your new bikes and helicopters too.
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presto345
Excellent decision.
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Badsey
Many of the fiat currencies are worth less (US$, Euro), plus people are buying less and at discounted prices = manufacturers are getting squeezed $¥.
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seaforte03
what you see is NOT what you get - I'm sure although their cash remuneration is slashed - their stock options compensate...
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