News: Reliance CMD Mukesh Ambani forgoes Rs 24-crore from salary

C-Suite

Reliance CMD Mukesh Ambani forgoes Rs 24-crore from salary

Reliance Industries’ billionaire chief Mukesh Ambani has kept his annual salary capped at Rs 15 crore for the fifth year in a row, while foregoing nearly Rs 24 crore from the remuneration approved for him by shareholders, a PTI report said.

Reliance Industries’ billionaire chief Mukesh Ambani has kept his annual salary capped at Rs 15 crore for the fifth year in a row, while foregoing nearly Rs 24 crore from the remuneration approved for him by shareholders, a PTI report said.

Mr Ambani has kept his salary at the country's biggest private sector entity, RIL, unchanged at this level since the fiscal year 2008-09.

“The Chairman and Managing Director's compensation has been set at Rs. 15 crore as against Rs. 38.93 crore that he is eligible as per the shareholders' approval, reflecting his desire to continue to set a personal example for moderation in managerial compensation levels,” the PTI quoted the company’s annual report for the year ended March 31, 2013.

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Topics: C-Suite, #Updates

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