Toshiba to cut interim CEO pay by 90% on accounting scandal

[TOKYO] Toshiba Corp said it would slash its interim chief executive's monthly salary for the next two months by 90 per cent, including previously announced cuts, following revelations of improper accounting at the Japanese conglomerate.

The company said on Wednesday it would reduce Masashi Muromachi's monthly salary by 50 per cent on top of the 40 per cent cut already in place. It said it would also dock the pay of other senior executives, and that an extraordinary shareholders' meeting in September would consider any additional measures.

Toshiba also said it would hire more independent directors, including lawyers and accountants.

REUTERS