India-origin Ramani Ayer, Immelt among overpaid bosses

At a time when executive compensation has rankled many nerves, India-origin chief of Hartford Financial Services Ramani Ayer and General Electric's chief Jeffrey R Immelt have been named among the “overpaid bosses” by business magazine Forbes.

The list is based on the performance of executives who delivered the most to the company's shareholders, relative to their total compensation.

Kenneth D Lewis, who has been at the helm of battered financial services entity Bank of America, medical devices maker Boston Scientific's James R Tobin and automotive seating system's supplier Lear's Robert E Rossiter also come under the “overpaid bosses” category.