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Samsung CEOs’ Salaries Drop Due to Poor Sales

17 November, 2015 Samsung


As per a report from Korea, the tech giant's CEOs' are witnessing drastic drop in salaries in 2015, something the report says is because of the struggling sales figure of the company in this year. Referring to the regulatory filing done by Samsung, the report disclosed that among the three CEOs, Kwon Oh-hyun (also the vice chairman) was paid highest salary this year - 3.82 billion Korean Won ($3.25 million), in comparison to 6.25 billion Won he received last year. Yoo Boo-keun - who handles the company's consumer electronics business division pocketed 2.34 billion Won, in comparison to last year's 3.61 billion Won. Mobile business headman Shin Jong-kyun experienced the largest cut, receiving just 2.28 billion Won this year dropped from 12.03 billion Won in 2014.


The drastic drop in Salary is due to the decreased incentives, which are generally associated with the company's performance. This report has come out amid speculations that Samsung is planning to cut cost by laying-off workers in managerial level.


Nevertheless Samsung has put a lot of effort to produce smartphones like Galaxy S6, which has a good build quality. Probably this is one of the main reasons behind the sales boost (although it didn't make any considerable difference).

 

Source: koreaherald

 

 


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