It is always believed that the CEOs and MDs of conglomerate companies take higher remunerations. They are given 9 to 10 digit salaries. However, this conception is not true all the time. Here is a list of top 10 low paid CEOs in India.
CEO & Managing Director of Mahindra Finance
Annual Salary :- 2.66 crores
Moreover, the company is led by him since the year of 1995. The company also hired a team of young managers under his leadership for taking care of 9000 employees.
Managing Director of Ambuja Cement
Annual Salary : – 2.30 Crores Per year
Ambuja Cements appointed him as the Managing Director of the company after the resignation of Onne Van Der Weijde. Previously, he was working as the deputy MD. He was appointed as the MD due to the plan of succession of the company.
Managing Director of Nestle, India
Annual Salary :- 2.13 Crores
A year of being the MD of the huge company will be completed by Benet this year. Recently, his post is transferred to MD. His annual salary can be expected to be higher as he was the ex-CEO of the same company for West Africa.
Managing Director : – Tata Global Beverages
Annual Salary : – 1.8 Crores
The new MD of TATA Global Beverages is none other than Ajoy Mishra. It happened after the resignation of Harish Bhat this year. Annual salary of Mishra is not more that 1.8 crores which does not match to the post of Ajoy.
Managing Director of Shriram Transport Finance
Annual Salary : – 48.17 Lakhs
Now Umesh Revankar is appointed as the MD of Shriram Transport Finance. Earlier, he was the deputy managing director of the company. Umesh is considered as the lowest paid CEO in India.
Vinod K. Dasari
Director of Askhok Leyland
Annual Salary : – 2.12 Crores
He is appointed as the Director on board of the Ashok Leyland and also the Managing Director of the company. The company cut 21 percent of the salary of MD as huge loss was reported by the company.
CEO and MD of Federal Bank
Annual Salary :- 1.01 crores
For the last four years, Shyam has been working as the CEO and MD of Federal Bank. He has twenty years of expertise in banking. Srinivasan works really hard for taking the company forward. It is his desire to make this bank one of the leading banks throughout the entire world.
Kiran Kumar Gandhi
Managing Director of GMR Infrastructure
Annual Salary : – 2.47 crores
B.V.N. Rao is replaced by him and he is appointed as the MD of GMR Infrastructure. His appointment comes in the wake of the rotational policy of the company that happens amongst the highest level of management.
MD of Tech Mahindra and CEO of Mahindra Satyam.
Annual Salary : – 2.30 crores
His annual salary is 2.30 crores which is not sufficient for a CEO and MD of conglomerate companies.
CEO and Managing Director of Exide Industries.
Annual Salary : – 2.41 crores
In 2013, he was appointed as the CEO and MD of Exide Industries. His annual salary is 2.41 crores which is very low according to his post.