Tata Communications posted its annual report for the year ended March 2024 on Tuesday.
What Happened: The company’s CEO A S Lakshminarayanan was paid a total salary of ₹17.01 crore for the year. His basic salary was around ₹6.24 crore and received perquisites & allowances worth ₹4.94 crore. He received a commission worth ₹5.82 crore.
The company said that the perquisites & allowances include long-term incentives of ₹4.37 crore which will be paid in FY25. Commission for the year ended March 2024 will also be paid in FY25.
Lakshminarayanan current salary is around 2% higher than the ₹16.65 crore he was paid in FY23. His current salary is around 46 times greater than the median salary at the company.
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A veteran of over 35 years with the Tata Group, Lakshminarayanan holds an engineering degree from BITS, Pilani, and is an alumnus of the senior executive programme at London Business School.
Since November 2019, he has served as the managing director and CEO of Tata Communications. In addition to his role at Tata Communications, he serves on the boards of Nelco Limited, Tata Teleservices Limited, and Tata Teleservices (Maharashtra) Limited.
Before joining Tata Communications, the 63-year-old executive was the president and CEO of Tata Consultancy Services (TCS) Japan, Ltd., where he accelerated market opportunities and the brand’s presence in the region.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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