Sony Corp. shareholders on Friday approved the company’s plan to pay 1.6 billion yen in retirement allowances to Norio Ohga, Sony’s former president and chairman.
At a meeting in Tokyo, some shareholders said the 1.6 billion yen retirement pay is an appropriate amount, but others said Ohga should refuse the money as he was responsible for debts the company has racked up.
Sony Chairman Nobuyuki Idei told shareholders that Ohga’s retirement pay was calculated according to internal standards.
Ohga has said he will donate the 1.6 billion yen to the summer resort town of Karuizawa, Nagano Prefecture, where some of the money will be used to build a music hall.
Shareholders also approved the company’s plans to set up board committees and appoint Nissan Motor Co. President Carlos Ghosn as an outside director.
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