Guantner Bashchek and N Chandrasekaran
Guenter Butschek, Managing Director and CEO of Tata Motors, is the second highest paid non-promoter in the Indian auto industry. At Rs 19.27 crore, his salary is higher than that of N Chandrasekaran. N Chandrashekhar is a non-executive director on the company’s board and receives a fee of Rs 4.8 lakh for a board or committee meeting. As Chairman of Tata Sons, he attends the board meetings of various Tata Group companies.
Pawan Goenka and Anand Mahindra
Similarly, Pawan Goenka, the managing director of Mahindra & Mahindra, received Rs 10 crore as salary in FY2020. This is more than Anand Mahindra, the chairman of Mahindra & Mahindra. Anand Mahindra earned a salary of Rs 8.71 crore in the last fiscal year 2020. The Scorpio of this company is believed to be the gift of 65-year-old Goenka. Scorpio is M&M’s most popular SUV.
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Vinod Dasari and Siddharth Lal
Vinod Dasari is the highest paid non-promoter among Indian car companies. Dasari had received a salary of Rs 24.6 crore in the last financial year. Last fiscal year, the former CEO of Ashoka Leyland was appointed CEO of Royal Enfield. In this comparison, the promoter and managing director of the company, Siddharth Lal, received a salary of just Rs 19.41 crore.
Vipin Sondhi and Dheeraj Hinduja
Vipin Sondhi, former Managing Director of JCB India, was appointed as General Manager and CEO of Ashoka Leyland in December 2019. He earned a salary of Rs 2.2 crore for 100 days from December to March. This is more than the president of the company, Dheeraj Hinduja. Hinduja received a salary of Rs 1.16 crore for the whole year in the last fiscal year. Sondhi also received 70.1 lakh stock options in FY20.
In the last year there have been some promoters who have been executives of the company, they are also among the best paid. Bajaj Auto managing director Rajiv Bajaj’s salary increased by 23 per cent to Rs 40 crore. Hero Motocorp Chairman and CEO Pawan Munjal earned Rs 85 crore, 5 per cent more than the previous fiscal year.
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Kenichi Akuhaya, the managing director of Maruti Suzuki, received a salary of Rs 4.66 crore in FY2020. Less than other executives in the auto industry itself. It is worth noting that Maruti Suzuki’s operations are huge compared to other companies. In FY20, Maruti Suzuki’s total revenue was Rs 7,900 crore while the company’s net profit was Rs 5,650 crore. In the same year, Eicher Motors made a revenue of Rs 9,153 crore and a net profit of Rs 1,827 crore. (This news has been translated from Moneycontrol. Click here to read in Spanish)undefined
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PUBLISHED FOR THE FIRST TIME : August 14, 2020, 5:09 p.m. IST