Reeba.Zachariah@timesgroup.com
Mumbai: Tata Sons chairman N Chandrasekaran took a cut in his remuneration for fiscal 2020. The pay package of Chandrasekaran shrank 11% to Rs 58 crore, according to the Tata Sons FY 20 report. In fiscal 2019, the chairman’s remuneration was Rs 66 crore. CFO Saurabh Agrawal’s remuneration marginally declined to Rs 15.8 crore from Rs 16.5 crore.
Even though the company reported higher profit, the management took a cut in compensation package following the economic conditions impacted by the Covid pandemic, a Tata observer said. Shareholders of Tata Sons cleared the commission on profit to its directors at the company’s annual general meeting on Thursday. Chandrasekaran’s commission for FY2020 stood at Rs 46 crore. Employee costs, however, marginally declined to Rs 363 crore.
Mumbai: Tata Sons chairman N Chandrasekaran took a cut in his remuneration for fiscal 2020. The pay package of Chandrasekaran shrank 11% to Rs 58 crore, according to the Tata Sons FY 20 report. In fiscal 2019, the chairman’s remuneration was Rs 66 crore. CFO Saurabh Agrawal’s remuneration marginally declined to Rs 15.8 crore from Rs 16.5 crore.
Even though the company reported higher profit, the management took a cut in compensation package following the economic conditions impacted by the Covid pandemic, a Tata observer said. Shareholders of Tata Sons cleared the commission on profit to its directors at the company’s annual general meeting on Thursday. Chandrasekaran’s commission for FY2020 stood at Rs 46 crore. Employee costs, however, marginally declined to Rs 363 crore.
