Automobile major Tata Motors’ whole-time directors and key managerial personnels saw a downward revision in their remuneration during last fiscal, the company’s annual report said.
According to the Annunal Report for 2016-17, remuneration of its Executive Director Ravi Pisharody, who has recently quit the company had decreased by 17 per cent to Rs 2.3 crore in 2016-17.
Similarly, ED Satish Borwankar’s had come down by 12 per cent to Rs 2.14 crore, whereas the company’s CEO and Managing Director Guenter Butschek recieved more than Rs 22.55 crore during the period under review.
“Guenter Butschek joined on February 15, 2016 hence percentage increase in the remuneration is not comparable,” the company’s 72nd Annual Report said.
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