Chief Executive Officers: India
This is a collection of articles archived for the excellence of their content. |
Highest paid professionals and promoters
Dec 26 2014
India Inc has 96 executives in the million-dollar pay club, a study of top salaries for 2013-14 commissioned by TOI has revealed. The number of professional CEOs in the club has increased from 34 during 2012-13 to 39, finds the study by global executive search firm EMA Partners. In case of promoter CEOs, the number went up marginally from 56 to 57. The study took into account executive compensation in excess of Rs 6 crore per annum for the top 200 listed companies and excluded stock options. Here are the highlights...
Employer-employee salary ratio
The Times of India, Jul 06 2015
Mukesh's pay 205-times RIL's median
Ratio Stands At 439 For ITC's Deveshwar, 89 For Wipro's Premji
Billionaire industrialist and India's richest man Mukesh Ambani has not taken a pay hike for seven years, but his salary is over 205-times that of the median employee remuneration at Reliance Industries (RIL). However, this ratio stands much higher at 439 times in case of ITC executive chairman Y C Deveshwar.
The same ratio stands much lower at 89-times in case of IT major Wipro's chairman and managing director Azim Premji, and just at 19-times for mortgage giant HDFC's chair a man Deepak Parekh for the latest fiscal 2014-15.
However, HDFC Bank's t MD Aditya Puri got a remuner p ation that was 117-times the t median employee pay at the bank, while for ICICI Bank 2 CEO Chanda Kochhar, it was 97 c times and at over 74 times for Axis Bank's managing director and CEO Shikha Sharma.
For IT giant Infosys' CEO Vishal Sikka, his pay was 116 times of the median employee pay at the company . The same ratio for HUL's CEO Sanjiv Mehta was 93 times, but much higher at 293 times for Vedanta Limited's chairman Navin Agarwal.
Listed companies have be gun disclosing these ratios, as also other comparisons such as salary hikes for the top management personnel and an average staff, for the first time pursuant to the new Companies Act and Sebi's latest Corporate Governance Code coming into force.
While a majority of the companies are still in the proc ess of disclosing these details, the disclosures made so far by the top companies show a wide variance in these ratios, while there is also a huge difference between the pay hike figures for the top management per sonnel and an average staff member in many cases.
However, there are a few cases where the increase in the median employee remunera tion is almost equal or even higher than the same for the CEOs and other key manage ment personnel.
In case of RIL, chairman and MD Mukesh Ambani has kept his salary capped at Rs 15 crore for seven years now, while the median remuneration of em ployees increased by 3.7% to Rs 7.29 lakh during 2014-15. The to tal remuneration of key mana gerial personnel, in fact, dipped by 1.9% to Rs 73.28 crore.
