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India's 27 Highest Paid Executives - News
Last updated on: January 14, 2011, 08:07 IST
1. Naveen Jindal - Salary: Rs 69.757 crore
Interestingly, topping the list of India's highest-paid executives is a Member of Parliament from Kurukshetra, Naveen Jindal, who is also the Executive Vice-Chairman and Managing Director of Jindal Steel & Power. Naveen Jindal, of the Congress, has topped the list with a remuneration of Rs 69.757 crore (Rs 697.57 million).
2. Kalanithi Maran - Salary: Rs 37.08 crore
Kalanithi Maran is the Chairman and Managing Director of Sun TV Network Limited and SpiceJet. He earned a salary of Rs 37.08 crore (Rs 370.8 million) in 2010. Kalanithi Maran heads Sun TV, India's biggest regional broadcaster. He owns 21 television channels in Tamil, Telugu, Malayalam, and Kannada and 42 FM stations in Tamil, Telugu, Kannada, and Hindi. He is a shareholder in Red FM. He also owns two Tamil newspapers and four Tamil magazines. In 2008, in partnership with Malaysia's Astro, he launched Sun Direct, a direct-to-home satellite television service provider. There are expansion plans in the pipeline, particularly in the television and radio industries. Maran is the son of the late DMK leader and former Union minister Murasoli Maran, the grandnephew of DMK president M Karunanidhi, and the brother of Dayanidhi Maran, former Union minister for communications and information technology.
3. Kavery Maran - Salary: Rs 37.08 crore
Kavery Maran is Kalanithi Maran's wife. She is the Joint Managing Director of Sun TV Network Limited. In 2010, she took home the same salary as her husband: a whopping Rs 37.08 crore (Rs 370.8 million). She also looks after the operations of their vast business.
4. Pawan Munjal - Salary: Rs 30.88 crore
Pawan Munjal is the fourth-highest-paid CEO in India with a compensation of Rs 30.88 crore (Rs 308.8 million) plus a commission of Rs 29.50 crore (Rs 295 million), a rise of over 50 percent over 2009. His total earnings in 2010 thus stand at Rs 60.38 crore (Rs 603.8 million). However, this list ranks executives only on their salary and does not include the commissions they might have received. Pawan Munjal is the Managing Director and CEO of Hero Honda. He is responsible for growth and strategic planning for the entire group.
5. Brijmohan Lall Munjal - Salary: Rs 30.638 crore
B M Munjal is the fifth-highest-paid CEO with a package of Rs 30.638 crore (Rs 306.38 million). He also earned a commission of Rs 29.50 crore (Rs 295 million) in 2010. His total earnings in 2010 thus stand at Rs 60.13 crore (Rs 601.3 million). Founder director and chairman of the $2.8 billion Hero Group, Brijmohan Lall Munjal has also served as the president of Confederation of Indian Industry (CII), Society of Indian Automobile Manufacturers (SIAM). He has also won the Padma Bhushan Award.
6. Toshiaki Nakagawa - Salary: Rs 30.03 crore
Toshiaki Nakagawa, Joint Managing Director, Hero Honda, is at the sixth position in terms of the highest salaries drawn by executives in India. Nakagawa's salary is at Rs 30.03 crore (Rs 300.3 million). He too earned a commission of Rs 29.50 crore (Rs 295 million) in 2010, putting his total earnings at Rs 59.53 crore (Rs 595.3 million). He joined Honda Motor Co, Ltd, Japan in April 1973. He later took over various assignments at senior positions in the worldwide Honda network. He looks at overseas sales of automobiles and motorcycles.
7. Sumihisa Fukuda - Salary: Rs 29.91 crore
Sumihisa Fukuda, Technical Director, Hero Honda, received an 89 percent hike in his compensation. His salary stands at Rs 29.91 crore (Rs 299.1 million). He also earned a commission of Rs 29.50 crore (Rs 295 million) in 2010. His total earnings come to Rs 59.41 crore (Rs 594.1 million). Sumihisa Fukuda, who was appointed as an additional and technical director on May 13, 2008, has more than 30 years of experience.
8. Onkar Kanwar - Salary: Rs 29.69 crore
The Chairman of Apollo Tyres, Onkar Kanwar saw a whopping rise in salary commensurate with a rise in the company's profit. Kanwar bagged the eighth highest salary of Rs 29.69 crore (Rs 296.9 million), a rise of 222 percent. He also got a commission of Rs 18.50 crore (Rs 185 million), taking his total earnings to Rs 48.19 crore (Rs 481.9 million). Onkar Kanwar is the chief architect of the company's vision and guides the company's operations. Under his leadership in the 1980s and 90s, Apollo
9. Pankaj Patel - Salary: Rs 28.63 crore
Pankaj Patel, Chairman, and Managing Director of Cadila Healthcare, with a salary of Rs 28.63 crore (Rs 286.3 million) is the tenth highest-paid CEO in India.
10. Kumar Mangalam Birla - Salary: Rs 28.467 crore
Head of commodities conglomerate Aditya Birla Group has his hands full with a move to restructure the group's cement business. His salary for the year 2010 was 28.467 crore (Rs 28.467 million). He also received a commission of Rs 28.45 crore (Rs 284.5 million), taking his total earnings for the year to Rs 56.917 crore (Rs 569.17 million). Kumar Birla is also the tenth richest Indian.
11. P R R Rajha - Salary: Rs 27.60 crore
Unlike other CEOs, PRR Rajha's compensation dropped by 3 percent to Rs 27.91 crore (Rs 279.1 million). But he also got a commission of Rs 27.60 crore (Rs 276 million), taking his annual earnings to Rs 55.51 crore (Rs 555.1 million). Rajha is the Managing Director of Madras Cements Ltd. He also serves as Chairman of Ramco Systems, Ramco Industries, and Rajapalayam Mills Ltd.
12. Sunil Mittal - Salary: Rs 23.488 crore
A first-generation entrepreneur, Sunil Bharti Mittal started his first business in April 1976 at the age of 18, with a capital investment of Rs 20,000 borrowed from his father. His first business was to make crankshafts for local bicycle manufacturers. His salary for the year 2010 stood at Rs 23.488 crore (Rs 234.88 million), making him the 12th highest-paid executive in India. Mittal's Bharti Enterprises is now one of India's leading business groups with interests in telecom, financial services, retail, manufacturing, and agribusiness. Sunil Mittal started his career after graduating from Punjab University in India. He founded Bharti in the year 1976. Today, at 50, he heads a successful enterprise with a market capitalization of about $40 billion employing over 30,000 people.
13. Markand Bhatt - Salary: Rs 21.501 crore
Markand Bhatt, who is an Indian Institute of Management-Ahmedabad alumnus, heads the Torrent Group. His salary was Rs 21.501 crore (Rs 215.01 million) in 2010. Apart from this, he received a commission of Rs 17.60 crore (Rs 176 million). His other directorships include Torrent Power Ltd., Torrent Pipavav Generation Ltd., and Torrent Energy Ltd.
14. Sajjan Jindal - Salary: Rs 19.273 crore
Sajjan Jindal is the Vice Chairman and Managing Director of JSW Steel. His pay packet for 2010 was Rs 19.273 crore (Rs 192.73 million). JSW Steel is India's third-largest steel producer.
15. Vivek Kumar Jain - Salary: Rs 18.184 crore
Vivek Jain is the Managing Director of Gujarat Fluorochemicals. His salary for 2010 stood at Rs 18.184 crore (Rs 181.84 million). He also earned a commission of Rs 17.613 crore (Rs 176.13 million) during the year. He is a graduate of Commerce from St Stephens College Delhi and also has a post-graduate degree in Business Administration from the Indian Institute of Management Ahmedabad. He has over 25 years of rich business experience in setting up and managing several businesses. Gujarat Fluorochemicals Limited is a part of the $2 billion INOX group of companies -- a family-owned, professionally managed business group, with interests in diverse businesses. Listed on both the Bombay Stock Exchange and National Stock
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