Tata Sons Chairman, N Chandrasekaran’s pay dips 11% to Rs 58 crore
According to the Tata Sons FY20 report, N Chandrasekaran, Tata Son’s chairman took a cut in his remuneration for fiscal 2020. The pay package of Chandrasekaran dips 11% to Rs 58 crore, in FY19, the chairman’s remuneration was Rs 66 crore.
TCS Chief Executive and Managing Director Rajesh Gopinathan shrank 16.5% from 2018-19 to Rs. 13.3 crore in 2019-20.
Saurabh Agrawal, CFO remuneration marginally shrank to Rs 15.8 crore from Rs 16.5 crore.
Even though Tata Sons noticed its revenue greater than doubling in fiscal 2020, pushed by greater dividend contribution from its software program providers subsidiary TCS. Profit soared 130% to Rs 2,680 crore from Rs 1,145 crore in fiscal 2019.
Earlier in the month of June this year, Tata group companies explored 15-20% salary cuts for the senior management to tide over the impact of the coronavirus-induced economic slowdown on their businesses.
As per TOI report, shareholders of Tata Sons cleared the commission on profit to its directors at the company’s annual general meeting on Thursday. Chandrasekaran’s commission for FY20 stood at Rs 46 crore. Employee costs, however, marginally declined to Rs 363 crore.
