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NOVEMBER 11, 2005 (IDG NEWS SERVICE) - Senior executives at the Tokyo Stock Exchange will get pay cuts of between 10% and 50% for up to six months following a systems failure that shut down stock and convertible bond trading for several hours on Nov. 1, the exchange said in a statement. The outage was the most serious trading systems failure to have hit the exchange, which is Japan?s busiest.
Takuo Tsurushima, president of Tokyo Stock Exchange Inc., will see his pay cut in half for six months, the statement said. Sadao Yoshino, chief financial officer and senior managing director, and Tomio Amano, managing director and executive officer for the exchange with responsibility for the IT system, will both lose 30% of their pay for six months, it said. Five other staffers also face pay cuts.
NOVEMBER 11, 2005 (IDG NEWS SERVICE) - Senior executives at the Tokyo Stock Exchange will get pay cuts of between 10% and 50% for up to six months following a systems failure that shut down stock and convertible bond trading for several hours on Nov. 1, the exchange said in a statement. The outage was the most serious trading systems failure to have hit the exchange, which is Japan?s busiest.
Takuo Tsurushima, president of Tokyo Stock Exchange Inc., will see his pay cut in half for six months, the statement said. Sadao Yoshino, chief financial officer and senior managing director, and Tomio Amano, managing director and executive officer for the exchange with responsibility for the IT system, will both lose 30% of their pay for six months, it said. Five other staffers also face pay cuts.
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