Shareholders at Tata Consultancy ServicesBSE 1.81 % annual general body meeting queried CEO N Chandrasekaran's payout for FY16, especially the ratio of his salary to the median remuneration, contrasting it with their dividends and lack of bonus shares.
In FY16, Chandrasekaran's salary rose 20% to Rs 25.6 crore and he received an additional Rs 10 crore as a one-time special bonus. Chandrasekaran's compensation now stands at 459.84 times the median level at TCSBSE 1.81 %, widening from 416 times in the previous year.
In FY16, Chandrasekaran's salary rose 20% to Rs 25.6 crore and he received an additional Rs 10 crore as a one-time special bonus. Chandrasekaran's compensation now stands at 459.84 times the median level at TCSBSE 1.81 %, widening from 416 times in the previous year.
We have imposed restrictions on age in this country. We should impose restrictions on income. This is not the Tata tradition. This is uneven distribution of income.
You only see this in two IT companies in India - one in Bangalore, one in MUMBAI," a shareholder said to the Board.
A second shareholder asked how it was possible to have such a large salary-to-median-ratio level, especially as shareholders have not been compensated. A third asked why TCS was trying out these 'American practices' in a poor country.
Chairman Cyrus mistry fielded the questions on CEO compensation.
A second shareholder asked how it was possible to have such a large salary-to-median-ratio level, especially as shareholders have not been compensated. A third asked why TCS was trying out these 'American practices' in a poor country.
Chairman Cyrus mistry fielded the questions on CEO compensation.
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