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Mitsui Chemicals' Executives Forfeit Part of their Pay Following Explosion

2:12 AM MDT | May 1, 2012 | Natasha Alperowicz

Mitsui Chemicals announced today that its top executives will forfeit a part of their remuneration “as a sense of responsibility” following a recent accident at the company’s Iwakuni-Ohtake works. An explosion at the site, which occurred on April 22, claimed the life of one employee and injured nearly two dozen people, including 10 residents.   The president and CEO will forfeit 40% of the executive compensation for an indefinite period starting in April. Other executive officers will waive 30% of their pay over the same period...

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