Zenji Miura, Ricoh
In the wake of Ricoh India’s accounting scandal, executives from the Japanese parent company have opted for voluntary pay cuts.
Yesterday, The Recycler reported on Ricoh’s issues with its scandal-ridden Indian subsidiary and its new share transfer with Japanese company, Nisshinbo Holdings Inc.
Now Bloomberg Quint reveals that top executives from the Japanese parent “will take voluntarily pay cuts of 15 percent for three months.” In addition, the company’s former CEO and current executive advisor, Zenji Miura, “will take a 30 percent cut for three months and will resign.”
Ricoh also made it clear that “it will not provide any additional financial support to the India business.”