Notable CEO's performance and compensation for FY23 revealed in recent reports.
As several companies are still pending the release of their annual reports for the fiscal year 2022-23, the compensation details of several CEOs remain undisclosed. Notably, in FY23, a few notable chief executives received substantial remuneration.
Pawan Munjal, the chairman and whole-time director of Hero MotoCorp, a prominent two-wheeler manufacturer, drew an annual salary of Rs 99.6 crore. Meanwhile, Thierry Delaporte, the managing director of software exporter Wipro, secured an annual remuneration of Rs 82.4 crore, and Abhay Bhutada, MD of Poonawalla Fincorp, earned a noteworthy salary of Rs. 78.1 crore.
However, as per TimesNow, emerging as one of the highest-paid CEOs in Corporate India for FY23 is Natarajan Chandrasekaran, the chairman of Tata Sons, with an annual remuneration of Rs 113 crore for 2022-23. The 60-year-old Chandrasekaran received Rs 11.52 crore as salary and a whopping Rs 100 crore as a commission on profit, according to documents from Tata Sons.
Mukesh Ambani, Chairman and MD of Reliance Industries, opted for a capped salary of Rs 15 crore. On the other hand, Gautam Adani, the Chairman of Adani Enterprises, received Rs 2.39 crore from Adani Enterprises, the flagship of the Adani Group.
Similarly, Sajjan Jindal, the Chairman of JSW Steel, secured a substantial annual package of Rs 51.3 crore in FY23. In contrast, S N Subrahmanyan, CEO, and MD of the company, witnessed a 41 percent reduction in remuneration at Rs 35.67 crore in FY23.
Although the remuneration of several CEOs hasn't been disclosed yet due to pending annual reports, figures from Tata Sons, the holding company of Tata Group, have come to light.
The financial picture of Tata Sons for FY23 showcased a 45 percent surge to Rs 35,058 crore, powered by dividends from group companies. The standalone profit also rose by 29 percent to Rs 22,132 crore. Tata Sons received a dividend of Rs 33,252 crore in FY23 compared to Rs 11,499 crore in FY22, with a significant contribution from Tata Consultancy Services (TCS). TCS paid a record dividend of 11,500 percent, or Rs 42,090 crore, to shareholders in FY23. It's noteworthy that Tata Sons holds a substantial 72.27 percent stake in India's largest IT exporter.
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