Sorry, totally my fault. Here, have $36.7 million.

I doubt we’ll ever see an American CEO do something like this. To make with the quoting:

Japanese Internet company Softbank Corp. said Friday its president and six other senior executives would forgo part of their pay to take responsibility for the leakage of personal data for over 4 million of its broadband customers.

Softbank’s President said that he and six other executives would go without 50% of their salary for six months in atonement for the leakage of personal information on 4.51 million of its customers. In addition, they publicly took responsibility for the problem and will offer the equivalent of $36.7 million in gift coupons for all its customers.

This amazes me. Sure, part of it is spin and damage control, but you just can’t get around the fact that these executives are not only acknowledging their personal accountability, but are also willing to take it in the pocketbook where it hurts. Usually it’s all about deflecting blame and passing the buck (or yen, as the case may be) until the courts or congress have to step in. Refreshing, no?

(Thanks to Techdirt for the original story.)

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2 thoughts on “Sorry, totally my fault. Here, have $36.7 million.

  1. yeah…. unfortunately in this country the CEO’s would probably point their fingers, fire about a 100 people, and then raise the price of what ever they are selling and justify it by claiming the increase in revenue will be used to ensure a higher standard in privacy control… either that or blame it all on hackers and take the “poor me” attitude….

  2. That is refreshing. Think of what the world would be like if everyone accepted responsibility for their mistakes…it’s almost unfathomable!

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