Maruti Suzuki CEO’s pay among lowest for pvt Sensex firms
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Maruti Suzuki India managing director and CEO Shinzo Nakanishi's remuneration is amongst the lowest compared with other chiefs of private sector firms that form the part of BSE 30-stock benchmark, Sensex.
Nakanishi had a total pay package of R2.8 crore last fiscal ended March 2012, slightly higher than R2.4 crore in the previous year, as per Maruti Suzuki's latest annual report for 2011-12.
His remuneration in 2011-12 included salary and perquisites worth R2.01 crore and performance-linked bonus of R80.3 lakh, while he was not paid any commission by Maruti Suzuki, the country's leading carmaker. Earlier, his pay package was incorrectly reported as R28.14 crore.
Among the 30 Sensex companies, those with a lower remuneration mostly included public sector companies, as also some IT firms like Infosys' SD Shibulal and Wipro's Azim Premji. At another private sector firm Tata Power, there was a change at the position of Managing Director mid-way during the year and therefore the figures are not comparable.
For Dr Reddy's Laboratories, the individual pay package of its business head could not be ascertained, as the company has only disclosed total remuneration of all executive directors in its annual report. The total remuneration for its EDs rose by 3.4% to R27.1 crore.
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