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Articles tagged with: salary

Cable & Wireless CEO Resigns After 3rd Profit Warning

The Cable & Wireless Worldwide Chief executive Jim Marsh has just resigned after the telecommunications and networking company received its third profit warning in less than year. It’s never a good thing when the CEO gets sketched out and hits the ‘eject’ button, so you know change must happen if the company is to succeed.

He will be replaced by a former CEO, John Pluthero, which I also find a strange move on behalf of the company. Pluthero, who will receive a $1 million salary when the company has been struggling for the past year, claims that the salary will help him ensure that the company stays on the right track with growth.

Sony’s CEO Takes 16% Pay Cut

After three years of continuous losses, Sony’s CEO, Howard Stringer, is finally taking a 16% paycut in efforts to allocate that money to other parts of Sony. Okay, so 16% isn’t a lot from a $4.2 million salary, but hey, it’s something.

From the tragic earthquake that occurred in Japan, the company has lost about $3 million and continues to suffer losses after the devastating Sony hack that happened a few months ago from the LulzSec hacking group.