Carl Rose the CEO of Sony Australia is not saying whether he has taken a pay cut after his poor performance locally, but his boss Sir Howard Stringer, chief executive of Sony, has taken a 16 per cent pay cut after Sony suffered its third straight net loss globally.
Sir Howard’s pay cut covers his cash salary and bonuses for the financial year to March 31, which fell $5m to $4.1m. His total reported compensation, including the theoretical value of stock options, rose slightly to $10.1m despite Sony stock falling 30% during the past two months.
The decline in Sony’s market value, 30% so far this year, versus a 6 per cent decline in Japan’s Nikkei average – was one of several issues that drew shareholder complaints at this year’s meeting. At least one shareholder demanded that Sir Howard step down.
Sir Howard apologised for the breach of Sony’s computer security in April that allowed hackers to steal personal information on some 100m users of its PlayStation Network gaming platform and other online services.
 Carl Rose CEO of Sony Australia |
In Australia Carl Rose has seen Sony Australia profits evaporate since he came back from a marketing role in Europe to eventually become the CEO of Sony Australia in 2007.
In the last financial year revenues fell by over $190 Million with the 2010/2011 results set to be filed shortly with ASIC.
When Rose took over as CEO of Sony Australia in 2007 the Company was a major player in the TV market with a share that went up to 32%. Today that share is below 20% with the brand slipping to sub 14% on occasions.
