Samsung’s CEOs see reduced incentives this year

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Last updated: November 17th, 2015 at 11:06 UTC+02:00

It was revealed through a recently filed regulatory filing from Samsung Electronics that the company’s three CEOs saw a reduced incentive, with compensations dropping from 30 to 80 percent as compared to last year. Salaries are still the same as last year, but the incentive drop is likely due to a bad year for Samsung. Kwon Oh-Hyun, who is the highest paid CEO in Samsung Electronics, received a salary of 3.82 billion Korean Won (~$3.25 million) over the first nine months of 2015.

Yoon Boo-keun, who is the head of Samsung’s business division, saw a significant decrease from last year’s 3.61 billion Korean Won. This year he only earned 2.34 billion Korean Won in the first nine months. Samsung’s mobile business chief Shin Jong-kyun saw the biggest drop this year with his incentives dropping from 12.03 billion Korean Won to 2.28 billion Korean Won. This is a proof good enough that these reduced incentives are due to sluggish smartphone sales this year.

Samsung needs to adapt to a growing market and it seems that they’re heavily affected by the industry through their incentives. The company’s official stated that they need to adapt to a changing market faster to be able to survive.

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