Sunil Bharti Mittal has been re-appointed as chairman of Bharti Airtel, a global telecommunications company and will take home higher annual pay package of 30 crores.
He will reign as company’s chairman for next five years effective October 1, 2016.
He will receive fixed pay package of Rs 21 crore annually and a variable pay of Rs 9 crore which will be performance –based. His compendium excludes perquisites not exceeding 50% of the fixed pay package in a year.
As per the news reports, this package was approved during company’s 21st annual general meeting held on August 19, 2016. The remuneration of Gopal Vittal, Bharti Airtel's Managing Director and CEO (India and South Asia) was also revised to Rs 7 crore per annum in the annual General Meeting.
Mittal is the founder of Bharti Enterprise, a pioneering business group with interests in telecom, retail and manufacturing, agri-business and financial services. This leading group has joint ventures with Singtel , SoftBank , Del Monte, AXA and several others. Bharti Airtel is a telecom giant with operations in 20 countries including Asia and Africa. With the view of subscribers, company ranks four amongst top mobile service providers globally. Its headquarter is based in New Delhi. It also offers mobile, broadband, Digital TV solutions across India, South Asia and Africa to over 350 million customers.