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Nintendo CEO slashes salary in half to apologise for Wii U losses

Nintendo announces operating loss of roughly $15 million for the nine months ending December 31.

 

 

 

Nintendo CEO Satoru Iwata will slash his pay in half for the next five months, following disappointing financial results for the Wii U and 3DS maker.

Other members of the Nintendo board will take a pay cut ranging between 20 and 30 percent of their salary.

The company announced last week that it was reducing its sales expectations for the Wii U by two thirds, now expecting to shift 2.8 million Wii U consoles for the 12-month period ending March 2014.

Nintendo originally expected to shift 9 million Wii U's in the same period.

Nintendo released its third quarter financial results overnight, announcing an operating loss of roughly $15 million for the nine months ending December 31, 2013.

The company also announced revenue of 499.1 billion yen for the period, a drop of 8.1 percent compared to last year.

 

source: Click here

10 Coins /News Award 10 Coins/ by Brenda Cassidy

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Post Thu, 30 Jan 2014 03:47:41

It is either that or get fired for a less than desirable stock value loss by the board of shareholders. Just ask Steve Ballmer, former CEO of Microsoft. 




PostThu, 30 Jan 2014 07:59:23Reply(0)
Good grief I never thought of that. The wii U hasn't really been given much of a chance to break in to the world of Nintendo
PostThu, 30 Jan 2014 16:14:37Reply(0)

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wow you have some great points and great info too .
PostThu, 30 Jan 2014 16:16:33Reply(1)

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Ok good news item I am only sorry I could only give one of you the Gold coins
PostThu, 30 Jan 2014 17:29:33Reply(0)

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