DRIVING UPHILL

Guenter Butschek

MD & CEO, Tata Motors Ltd.

` 22.55 crore (2016/17) ` 5.04 crore (2015/16) Joined on February 15, 2016

GUENTER BUTSCHEK is the highest paid CEO among Indian auto companies. In 2016/17, the first full fiscal year of Butschek with Tata Motors, his remuneration added up to ` 22.55 crore.

Butschek, former chief operating officer at Airbus, joined when the company was making heavy losses and struggling to retain its market share in India. He focused on pruning costs and expanding sales but encountered rough weather. Demonetisation and new emission norms took a toll and the company posted a mammoth ` 2,480 crore loss in 2016/17. The losses though have narrowed sharply in 2017/18, at ` 1,035 crore, even as revenue jumped 21.4 per cent to ` 59, 625 crore. Butschek's basic salary was ` 2.42 crore in 2016/17 but the benefits, perquisites and allowance were higher at ` 13.14 crore. The company also paid him an incentive of ` 6.7 crore.