Reliance Industries Chairman Mukesh Ambani kept his annual salary capped at Rs. 15 crore for the sixth year in a row even as the remuneration of key executives went up. Ambani, the richest Indian, has kept salary, perquisites and allowances and commission at Rs 15 crore since 2008-09, foregoing almost Rs 24 crore per annum. “The Chairman and Managing Director’s compensation has been set at Rs 15 crore as against Rs 38.86 crore as per shareholders’ approval, reflecting his desire to continue to set a personal example for moderation in managerial compensation levels,” RIL said in its annual report for the financial year ended March 31, 2014. Ambani voluntarily capped his compensation at Rs 15 crore in October 2009 amid a debate over right-sizing of CEO salaries.
Read the Hindu Business Line news report here.