Sanjiv Puri, the chairman and managing director of ITC, saw a total pay rise of 53.08 percent to Rs 16.31 crore for the fiscal year 2022–23.
The successful expansion of any firm may be attributed to the decisions made by leaders of large corporations. As important as their duties are, their salaries also reflect the effort they put in. One of the biggest businesses in India is ITC Limited. Cigarettes, stationery, cookies, and other FMCG items are all sold by the main firm.
The corporation also manages a series of upscale hotels, which is quite profitable. Sanjiv Puri, the chairman and managing director of ITC, saw a total pay rise of 53.08 percent to Rs 16.31 crore for the fiscal year 2022–23.
Who is Sanjiv Puri?
In 2015, Sanjiv Puri was appointed as the ITC Board's only director. He was named the company's CEO two years later. Next year, he was also named Managing Director. He is currently the chairman of the big corporation. He has a lot of talent. He received his engineering degree from IIT Kanpur and his MBA from the Wharton School of Business in the USA. He began working with ITC in 1986 and has been there ever since.
Puri has held a number of important roles in ITC. He served as COO from 2016 to 2017. He served as the FMCG company's president. Additionally, he oversaw trade sales and distribution for the Tobacco Division. He oversaw the ITC Infotech company's software division as well. He also serves as ITC Nepal's chairman.
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By participating in the projects of the Indian government, he has also contributed to the growth of the nation. He oversaw the fifteenth finance panel of the Indian government's advisory committee. The committee was established to talk about how to promote exports of agriculture.
To comply with the policy on retiring from July 22, 2024, ITC has submitted an answer for the annual general meeting on August 11 that would re-appoint Puri as a director, managing director, and chairman for five years or until such earlier date. On July 22, 2019, Puri was chosen to serve as ITC's managing director, and his current tenure will conclude on July 21, 2024. There were 23,725 permanent workers working at ITC as of March 31, 2023.
What is Sanjiv Puri's salary?
Puri received a base pay of Rs 2.88 crore from ITC for 2022–23, together with advantages and other perks of Rs 57 lakh and a performance-based bonus/long-term incentives/commission worth Rs 12.86 crore. In the previous year, Puri's entire compensation totaled Rs 10.66 crore, which was made up of Rs 2.64 crore in basic pay and Rs 49.63 lakh in perquisites and other perks.
However, only in FY22 did he receive a performance incentive or commission of Rs. 7.52 crore. While the market capitalization of the firm is Rs 5.88 trillion (Rs 5,88,000 crore).
(With inputs from PTI)
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