Friday, Mar 29, 2024 | Last Update : 01:39 AM IST

  Business   India Inc’s GenNext join crorepati salary league

India Inc’s GenNext join crorepati salary league

PTI
Published : Sep 26, 2016, 12:52 am IST
Updated : Sep 26, 2016, 12:52 am IST

From Ambanis and Adanis to Premjis and Khorakiwalas, several generation-next leaders of India’s leading family-run businesses have joined crorepati club when it comes to their salaries and other perks

From Ambanis and Adanis to Premjis and Khorakiwalas, several generation-next leaders of India’s leading family-run businesses have joined crorepati club when it comes to their salaries and other perks.

With a number of corporate houses promoting sons and daughters of their promoters to leadership positions, many of these companies have begun giving hefty remuneration packages to them for their “increased responsibilities” and “active involvement” in exploring new business opportunities.

Still, the annual pay of these next-generation leaders remains relatively low, as against the overall average payout of over Rs 20 crore for CEOs of India’s top-listed companies forming part of Sensex and only a fraction of the same in the US at close to $20 million (about Rs 130 crore).

Gautam Adani’s son Karan, who was appointed CEO of Adani Ports and Special Economic Zone Ltd, did not draw any remuneration from the company for fiscal 2015-16, but the board has approved an annual remuneration for him of up to Rs 1.5 crore, including salary, perks and other benefits, with effect from September 1, 2016.

As chairman and MD of the firm, Gautam Adani got total remuneration of Rs 2.8 crore in 2015-16, while whole time director Malay Mahadevia got Rs 10.7 crore.

In case of Anil Ambani’s son Anmol, who was recently appointed as director on the board of the group’s financial services arm Reliance Capital, the company has proposed a salary of Rs 1.2 crore per annum.

Sudarshan Venu, son of TVS Motor’s Venu Srinivasan, got annual remuneration of Rs 9.59 crore for 2015-16.

Location: India, Delhi, New Delhi