Tokyo, June 05: Japanese electronics and entertainment giant Sony Corp. plans to give former president Norio Ohga 1.6 billion yen (US$13.5 million) in retirement pay, a company spokesman said Thursday. The plan still needs approval at a June 20 shareholders meeting. The money, which is sizable by Japanese standards, reflects Ohga's contributions to the company, said Naoki Fujita, the spokesman.
Ohga, 73, a former opera singer who served as Sony president from 1982 to 1995, retired in January but serves as honorary chairman.
Credited with developing the compact disc, Ohga focused on music and movies as a way to enrich the electronics business and has been instrumental in Sony's growth into a global entertainment company. Bureau Report