Sunil Mittal takes home annual pay of over Rs 30 crore in FY17
Sunil Mittal, Chairman of telecom giant, Bharti Airtel took home the annual pay package of over Rs 30 crore in the Financial year 2016-2017. According to ET, his current pay package is over 8 percent higher than the previous year as he was drawing around Rs 27.8 crore.
As reported by People Matters earlier, Sunil Bharti Mittal was re-appointed as chairman of Bharti Airtel last year with fixed pay package of Rs 21 crore annually and a variable pay of Rs 9 crore which was performance –based. His compendium excluded perquisites not exceeding 50% of the fixed pay package in a year. This pay 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 last year.
Reportedly, Bharti Airtel meeting by shareholders will be held on July 24 where they would discuss re-appointment of Vittal as the Managing Director of the company for the period of five years with effect from February 1, 2018.
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, the 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.