Rs 100-million pay packages: The new normal for automobile firms' CEOs

With a remuneration of Rs 755 million last year, Pawan Munjal, the chief of country's biggest two-wheeler maker Hero MotoCorp, leads the pack among automobile CEOs

Annual compensation of Rs 100 million has become the norm for managing directors and chief executive officers of the country’s top automobile companies.

 
Pawan Goenka of Mahindra & Mahindra and Vinod Dasari of Ashok Leyland have joined the club in the last two years, while Eicher Motors’ Siddhartha Lal is almost there. Lal received a remuneration of Rs 95 million in 2017-18.
 
A booming demand and a corresponding increase in profitability in the last couple of years have augured well for those running the automobile firms. A significant portion of the compensation is linked to the performance of the