What CEOs In The Hyper-Competitive Telecom Sector Took Home As Salary Last Year
Pay cheques for telecom heads didn’t rise significantly despite high investment.
The hyper-competitive telecom sector may have seen a high level of investments in the last two years but that hasn’t led to a significant jump in remunerations of chief executive officers of these companies.
Idea Cellular Ltd.’s Managing Director, Himanshu Kapania was the lowest paid while Vodafone India’s Managing Director and Chief Executive Officer, Sunil Sood, took home the second highest salary. Bharti Airtel Ltd’s. Managing Director and Chief Executive Officer, Gopal Vittal, walked home with the highest package in the financial year 2015-16.
Himanshu Kapania’s annual take-home salary stood at Rs 8.93 crore, Sunil Sood’s annual package was Rs 9.28 crore while Gopal Vittal walked home with Rs 10.38 crore annually.
Gopal Vittal’s salary excludes perquisite stock options worth Rs 4.17 crore exercised by him in the previous financial year.
Himanshu Kapania’s salary also does not include perquisite stock options worth Rs 13.2 lakhs exercised by him in the current financial year.
Gopal Vittal’s annual take home included stock options worth Rs 4.17 crore, according to Bharti Airtel’s annual report for 2015-16, while Vodafone India’s said in a filing with the Ministry of Corporate Affairs that Sunil Sood’s annual fixed pay during the previous financial year stood at Rs 3.5 crore, while the target short-term incentive plan was Rs 2.63 crore and his long-term incentive target was Rs 3.15 crore for the financial year 2015-16.
Sunil Sood’s salary is proposed to be increased from July 1, 2016, Vodafone India added in its filling. It also said that any increment or revision in his salary and payment of performance-linked pay will be within a proposed range which will be subject to the approval of the nomination and remuneration committee.
In the financial year 2014-15, Gopal Vittal’s annual take home stood at Rs 7.78 crore, while Himanshu Kapania’s take home stood at Rs 8.78 crore and Sunil Sood’s annual salary which included short-term and long-term incentives was Rs 6.14 crore.