Mukesh Am­bani Caps Salary at .` 15 crore for 6th Year

The Economic Times - - Companies - RACHITA PRASAD

Bil­lion­aire Mukesh Am­bani has kept his salary as the head of Re­liance In­dus­tries capped at .` 15 crore for the sixth year, while giv­ing a 10-25% in­crease to other ex­ec­u­tive di­rec­tors. “The chair­man and man­ag­ing di­rec­tor’s com­pen­sa­tion has been set at .` 15 crore as against .` 38.86 crore as per the share­hold­ers’ ap­proval, re­flect­ing his de­sire to con­tinue to set a per­sonal ex­am­ple for mod­er­a­tion in man­age­rial com­pen­sa­tion lev­els,” the RIL’s an­nual re­port for 2013-14 stated. In­dia’s rich­est man Am­bani left his salary un­changed, ex­clud­ing a mi­nor tweak­ing of com­po­nents of his salary. There is a mi­nor re­duc­tion of .` 7 lakh in his re­ti­ral ben­e­fits and an in- crease to the same ex­tent in the com­mis­sion payable to him. RIL’s ex­ec­u­tive di­rec­tor Nikhil Meswani will take home .` 12.12 crore for 2013-14 as against .` 11.05 crore in the pre­vi­ous year. Ex­ec­u­tive di­rec­tor Hi­tal Meswani’s re­mu­ner­a­tion for FY14 was .` 12.11 crore as against .` 11.05 crore. The pack­age of PMS Prasad, ex­ec­u­tive di­rec­tor, whose re­mu­ner­a­tion for 2013-14 was .` 6.03 crore, rises 10.2%. An­other ex­ec­u­tive di­rec­tor, Pawan Ku­mar would get a re­mu­ner­a­tion of .` 2.49 crore, which is 25% higher than last year. In the last two years, sev­eral top ex­ec­u­tives of cor­po­rate In­dia have rather taken a salary cut or have frozen their salaries as in­dus­try suf­fered due to eco­nomic slow­down.

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