The world's largest spirits maker Diageo Plc has proposed an annual pay package of up to 10.9 million British pound (about Rs. 105 crore) for its newly appointed, Indian-origin CEO Ivan Menezes, PTI reported. Menezes, who has been with UK-headquartered Diageo for about 13 years, was paid total remuneration of 7.8 million pounds (Rs 75 crore) in the last financial year ended June 30, 2013 when he served as Chief Operating Officer.
Upon his promotion as CEO with effect from July 1, he has been given an 8.6% hike in base salary to one million pounds (about Rs. 9.6 crore) and would be entitled to further benefits totalling up to 9.9 million pounds (Rs 95 crore) a year, Diageo said in its latest annual regulatory filing.
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