New Delhi: Annual Remuneration of ITC Chairman and Managing Director Sanjiv Puri According to the company’s latest annual report, it grew by 47.23 per cent to Rs 10.10 crore in 2020-21.
The hike is based on the revised pay structure approved by the company’s shareholders in September 2019, when he took over as its chairman.
Puri, who took over as the chairman and managing director of the company with effect from May 13, 2019, had a remuneration of Rs 6.86 crore in 2019-20.
As per the report, his FY21 remuneration includes basic/consolidated salary of Rs 2.64 crore, perquisite/other benefits of Rs 48 lakh, performance bonus and long-term incentive of Rs 6.98 crore.
ITC, which followed a mix of salary and ESOP (Employee Stock Option Scheme) as remuneration structure, had to replace it after British American Tobacco (BAT), a shareholder in the company, in 2018 to prevent it from reducing its shareholding opposed it.
Subsequently, the compensation for key managerial personnel, including the chairman and managing directors and whole-time directors, was restructured, which was approved by the shareholders in September 2019.
Accordingly, the increase in Puri’s remuneration for 2019-20 was only for a part of the year; Whereas in FY2020-21 it took into account the full year impact.
After Puri, the company’s second highest paid employee was Nakul Anand, ITC’s whole-time director on the board, whose salary also increased by 30.64 per cent in FY21.
Anand, who oversees ITC’s hospitality, travel and tourism and lifestyle retailing businesses, had a remuneration of Rs 5.50 crore in FY11, compared to Rs 4.21 crore in FY10.
Similarly, the remuneration of B Sumanth, whole-time director and overseeer of the company’s FMCG business, including cigarettes, almost doubled to Rs 4.84 crore in 2020-21 from Rs 2.32 crore last year.
annual remuneration of Rajeev Tandon, whole-time director of ITC and person responsible for finance, accounts, internal audit and IT functions and investment subsidiaries of the company, grew 38 per cent to Rs 4.83 crore in FY21 as against 3.50 in FY10. crore was Rs.
The hike is based on the revised pay structure approved by the company’s shareholders in September 2019, when he took over as its chairman.
Puri, who took over as the chairman and managing director of the company with effect from May 13, 2019, had a remuneration of Rs 6.86 crore in 2019-20.
As per the report, his FY21 remuneration includes basic/consolidated salary of Rs 2.64 crore, perquisite/other benefits of Rs 48 lakh, performance bonus and long-term incentive of Rs 6.98 crore.
ITC, which followed a mix of salary and ESOP (Employee Stock Option Scheme) as remuneration structure, had to replace it after British American Tobacco (BAT), a shareholder in the company, in 2018 to prevent it from reducing its shareholding opposed it.
Subsequently, the compensation for key managerial personnel, including the chairman and managing directors and whole-time directors, was restructured, which was approved by the shareholders in September 2019.
Accordingly, the increase in Puri’s remuneration for 2019-20 was only for a part of the year; Whereas in FY2020-21 it took into account the full year impact.
After Puri, the company’s second highest paid employee was Nakul Anand, ITC’s whole-time director on the board, whose salary also increased by 30.64 per cent in FY21.
Anand, who oversees ITC’s hospitality, travel and tourism and lifestyle retailing businesses, had a remuneration of Rs 5.50 crore in FY11, compared to Rs 4.21 crore in FY10.
Similarly, the remuneration of B Sumanth, whole-time director and overseeer of the company’s FMCG business, including cigarettes, almost doubled to Rs 4.84 crore in 2020-21 from Rs 2.32 crore last year.
annual remuneration of Rajeev Tandon, whole-time director of ITC and person responsible for finance, accounts, internal audit and IT functions and investment subsidiaries of the company, grew 38 per cent to Rs 4.83 crore in FY21 as against 3.50 in FY10. crore was Rs.
.