Comments
Tech Mahindra Vice-Chairman Vineet Nayyar took home a total pay package of ₹181.74 crore in 2015-16, largely on account of stock options encashed by him, making him one of the highest paid executives in India.
Nayyar, up until August 2015, took home a salary of ₹1.27 crore, while his stock options earned him a whopping ₹177.87 crore, as per Tech Mahindra’s annual report for FY16. Sources said the stock option component of Nayyar’s earnings were vested in the previous years and were exercised during 2015-16.
He earned a commission (as percentage of profit) of ₹0.34 crore in the last financial year, it said, adding that Nayyar earned ₹2.25 crore as Additional Director from August 2015.
Nayyar, who was Executive Vice-Chairman of the company, retired on August 9, 2015. However, given his “vast experience and expertise”, he was appointed as an Additional Director and designated as Vice-Chairman with effect from August 2015.
He has been associated with Tech Mahindra for more than a decade, initially as MD and subsequently, as Executive Vice-Chairman.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.