Eicher Board to meet over MD's salary as shareholders reject re-appointment

Siddharth Lal's total salary increased from Rs 9.2 crore in 2016-17 to Rs 21.12 crore in 2020-21, a jump of about 130 per cent.

The board of directors of Eicher Motors is expected to meet shortly to resolve the crisis following the decision of shareholders to reject the reappointment of Siddharth Lal as managing director.

While no confirmation was available whether the board would review its earlier decision to increase Lal’s salary by 10 per cent, sources familiar with the developments said that looked a distinct possibility. 

When contacted, a company spokesperson said the board would take a call on this soon. This comes after the shareholders of Eicher Motors voted down the proposals for reappointing Lal as managing director and increasing his salary by 10