According to Economic Times report, Tata Group senior officials have received huge increments ranging from 16 to 60 percent.
“CEOs of high-growth companies are being rewarded and have been directed to continue to focus on tapping opportunities and increasing the pace of growth,” the CEO of a Tata Group company said.
“There is a big focus on productivity and performance across management levels and organizations that helped boost group-level growth. The energy is visible, the focus is now to scale up and grow for established companies”, the CEO added.
- R Mukundan, CEO, Tata Chemicals, got a 16% hike
- Praveer Sinha, CEO, Tata Power, got a 16% hike
- Sunil D’Souza, CEO, Tata Consumer, got a 24% hike
- Pradeep Bakshi, CEO, Voltas took a 22% hike
The increase for some executives will range between 20-50 percent. The total package includes salary, perquisites, commission, and other benefits. Additionally, the companies such as the Indian Hotels (IHCL), Tata Power, Trent, and Tata Consumer are among the leading businesses that have given generous hikes to their employees.
Founded by Jamsetji Tata in 1868, the Tata group is a global enterprise headquartered in India. The group operates in more than 100 countries across six continents with a mission ‘To improve the quality of life of the communities we serve globally, through long-term stakeholder value creation based on Leadership with Trust’​.
Sixty-six percent of the equity of Tata Sons, the promoter holding company, is held by philanthropic trusts, thereby returning wealth to society. The Tata name has been respected in India for 150 years for its adherence to strong values and business ethics. The companies of the Tata group employ the best and finest, strengthened by a culture of ethics and integrity.
Today Tata Sons stand strong at 702,454 employees.
