India's Highest Paid CEOs
Business Today|May 19, 2019

CEOs are getting paid more than before. But is there a co-relation between pay and performance?

Sonal Khetarpal
India's Highest Paid CEOs

With an astronomically high compensation of 146 crore, C.P. Gurnani, CEO and Managing Director, Tech Mahindra, was India Inc’s highest-paid professional CEO in 2017/18. Gurnani was followed by A.M. Naik, Group Chairman of Larsen and Toubro (L&T), who took home a pay packet of 137 crore. At a distant number three was HDFC Bank’s Managing Director, Aditya Puri, who earned 41.10 crore in the same year.

While Gurnani earned a massive 3,151 times more than the median pay of his company’s workforce, Naik’s salary was 1,725 times higher than the average salary in L&T. He surely would have never imagined that he would be among the highest paid Indian CEOs when he joined L&T as a junior engineer way back in 1965, and took home a salary of 670 per month. They are outliers, and these sums are including their long-term stock options, but more on that later.

This story is from the May 19, 2019 edition of Business Today.

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This story is from the May 19, 2019 edition of Business Today.

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