Avg CEO pay at blue chips up 100% in 2 years (Courtesy Times of India, Mumbai Edition, 8th August 2016)

Posted by:   Date:Aug 09, 2016

Nears Rs 20Cr For Pvt Cos

In a sharp jump, the average CEO salary at top listed companies in the private sector is approaching Rs 20 crore -double the level seen just two years ago at about Rs 10 crore. However, this remains less than one-sixth of the average CEO salaries at top listed companies in the US, which stood at close to $20 million (about Rs 130 crore) in 2015 despite a decline from the previous year. In India, the average CEO salary at top private companies, on the other hand, is way above the Rs 25-30 lakh average that their public sector counterparts get.

An analysis of the CEO salaries for the financial year 2015-16 disclosed by the country's top listed companies, forming part of the stock market benchmark index sensex, shows that they paid an average overall remuneration of close to Rs 19 crore to their top executives.

This includes salary, commissions, allowances, value of all perquisites and Esops exercised during the year, among other benefits disclosed by the companies as part of the total remuneration to their top-paid executives which included executive chairpersons, CEOs or managing directors.

The analysis is based on the disclosures made by 20 out of the total 24 private sector companies on the sensex, as the remaining four are yet to disclose their figures. Among the six PSUs on the sen sex, the figure for 2015 16 is available only in case of SBI, whose chairperson Arundhati Bhattacharya got about Rs 31 lakh.

Those at the lower end in terms of overall remuneration were mostly bankers and in cluded Axis Bank's Shikha Sharma (Rs 5.5 crore), ICICI Bank's Chanda Kochhar (Rs 6.6 crore) and HDFC Bank's Aditya Puri (Rs 9.7 crore). At HDFC, chairman Deepak Parekh was paid Rs 1.89 crore, while vice-chairman and CEO Keki Mistry got Rs 9.3 crore and MD Renu Sud Karnad got Rs 8.5 crore. The latest figures were not available for four companies -Sun Pharma, Maruti, Hero MotoCorp and Cipla.

For the latest fiscal, RIL's Mukesh Ambani got Rs 15 crore as its CMD.Gautam Adani was paid Rs 2.8 crore as CMD of Adani Ports and SEZ.

At Bajaj Auto, chairman Rahul Bajaj was paid Rs 11.3 crore, while son Rajiv Bajaj got Rs 22 crore as its MD. Vice-chairman Madhur Bajaj was paid Rs 8.5 crore.

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