Eicher Motors re-appoints Enfield's turnaround man Siddhartha Lal as MD

The company said the primary concern of the investors was not Lal's reappointment or the proposed compensation

In a relief for Siddhartha Lal, who faced a blowback from the shareholders over his reappointment and pay hike, the board of directors of Eicher Motors decided to unanimously reappoint him managing director (MD) with a revised remuneration package.

The decision will be subject to the shareholders’ approval and the board going back to them for fresh clearance through postal ballot, the company said in a stock exchange filing.

The board has approved a revised remuneration structure for Lal, with a cap of 1.5 per cent of profits. This comes after the shareholders voted down the reappointment and pay hike