Sunil Bharti Mittal Once Again named as the Chairman of Bharti Airtel : to receive Rs 30 crore, take home.
Sunil Bharti Mittal has been re-appointed as the Chairman of the company for a further term of five years with effect from October 1, 2016,” the company said in a BSE filing, communicating the outcome of its 21st AGM.
Bharti Airtel is India’s leading global telecommunications services company which operate in 18 countries. Sunil Bharati Mittal is the founder of Bharti Enterprises which is leading business group, interests in telecom, agri-business, financial services, retail and manufacturing.
Other groups having joint ventures with Bharti Enterprises are Singtel, SoftBank, AXA, Del Monte amongst others.Mittal’s annual take home package is about Rs 30 crore, excluding perquisites, for this fiscal.He will receive a fixed pay of Rs 21 Cr per annum and performance-linked variable pay of Rs 9 crore. This package is applicable for this financial year. It was approved at the company’s 21st AGM held on August 19, 2016.
The AGM also approved that there will be a revision in remuneration of Bharti Airtel‘s Managing Director and CEO (India and South Asia) Gopal Vittal, with taking home fixed pay of Rs 7 Cr/annum.He will also receive performance linked Incentive, ESOPs, and Perquisites. This remuneration will effect from June 1, 2016, for the remaining period of his tenure up to January 31, 2018.