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Scandal-hit Mitsubishi eyes tripling director's pay

18 Comments

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© 2016 AFP

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18 Comments
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Get caught up in a scandal. Give the top execs want to give themselves a triple increase in pay. They're all crooked.

7 ( +9 / -2 )

What extraordinarily good news! Surely these warriors in the service of Japan's economic well-being deserve to be so lavishly rewarded above all others? Look at their exemplary record of service; it speaks for itself and are not such rewards based upon a long record of meritorious service? Fortunately, there are no whiffs of such scandal that they may have partaken of any of a host of illicit substances in the privacy of their own home , or the ever watchful local constabulary would have descended swiftly like avenging angels to right their heinous misdeeds.

1 ( +2 / -1 )

Why stop there, why not give them an equally mind boggling quarterly bonus:-/ It's a shame the average worker can't even get a decent raise, and oftentimes has to work multiple jobs or do things on the side to make a little extra money but these guys can get all that money!?? Oh well, guess that's what most of us get for not being RICH !

4 ( +5 / -1 )

This is indeed a strange way to turn things round.

5 ( +5 / -0 )

This is depressing to see. One good thing about Japanese companies in comparison with American ones is that their executives in general are not anywhere near as outrageously paid. Japanese executives make about 1/4 what their American equivalents in similarly sized companies make.

You can see this clearly in how the Mitsubishi directors are paid now (ie before this proposed change takes effect). 470 million Yen divided by 10 directors equals an average of 47 million yen per director. That is about $500,000 US, give or take. That is certainly very generous, but for the directors of one of the largest corporations in Japan (and the world for that matter) its actually quite down to earth (compared to the 10s of millions paid out to the top executives at American companies of that size).

The rhetoric being used to justify this stupid raise is part of the gradual seeping in of one of the worst parts of American corporate governance - the idea that they need to pay outrageous sums to attract "top people". This is just self-serving BS that has no basis in reality for the most part. Until now its been very rare (not entirely unheard of, but rare) for Japanese executives to adopt this sort of rhetoric in relation to their own pay. Its sad to see they are abandoning that and going for all out US style greed.

1 ( +1 / -0 )

this is why working people around the world are voting for populist parties. They don't trust their self-serving elites, for some strange reason..

5 ( +7 / -2 )

Shopping for their own Ghosn.

2 ( +2 / -0 )

Why are people so upset. They will still get their 4 month winter bonus.

-9 ( +0 / -9 )

Does anyone want to triple my pay? No? It's a lot less than 3X47million yen. Still nobody wants to? Why not?!!

A little bit confusing: Ghosen got $18 million last year; then it says

Mitsubishi’s board would see its maximum annual pay jump to 2 billion yen ($17.5 million) under the proposed changes, from the current 960 million yen

and then

The current 10-person board was paid a total of 470 million yen in salaries for the year to March 2016, far below the current cap, the firm said.

Anyway, more than me, and you too most likely.

1 ( +2 / -1 )

''You people did a horrible job and even managed to bungle the coverup and put us deeply in the red. Great work!! Exorbitant raises for everyone. The stupid consumers won't even bat an eye. It won't be on the news for more than 20 sevonds anyway.'' I can understand this ''logic.''

0 ( +2 / -2 )

This is like adding insult to injury. Money should have been given as compensation to all the poor customers who were scammed by their gas mileage lie.

3 ( +4 / -1 )

In a nutshell: GREEEEEED

1 ( +1 / -0 )

Mitsubishi can still bounce back without this guy. Even with Volkswagen's emissions scandal they still managed to knock the mighty Toyota of it's crown by selling more cars in the first half of 2016. How does that happen?

0 ( +0 / -0 )

American style inequality has come to Japan, it will make Japan great again!

1 ( +1 / -0 )

Awesome news Mitsubishi.

0 ( +0 / -0 )

If I was share holder Ill call for a pay REDUCTION! that would give them something to think about... greedy XXXX

1 ( +1 / -0 )

We have to attract talented people from inside and outside the industry to join our board

Does this mean that all of the current board members will be replaced? If they keep the same people, the ones responsible for fiddling the mileage figures and other scandals, there should be a pay cut instead of a pay rise. Alternatively, they could bring in some cheaper directors from China or India. It's interesting how tripling salaries is never an option for solving a shortage of shop floor workers, only for "talented" managers.

Perhaps Nissan should walk away and let Mitsubishi Motors fail: that will show what the directors are really worth.

1 ( +1 / -0 )

Just goes to show how greedy and inconsiderate Carlos Ghosn really is. He could care less about the hard working Japanese employees. Don't give it to him. He doesn't need it!!!!! Spread the wealth!!!!!!

1 ( +1 / -0 )

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