Leading the list of those who saw a substantial increase is P Venkatesalu, CEO, Trent, who saw his annual salary rise by an impressive 62 per cent, reaching Rs 5.12 crore this year. Puneet Chhatwal, CEO, Indian Hotels, also received a substantial salary boost, earning Rs 18.23 crore annually, representing a 37 per cent increase. Sunil D’Souza, CEO, Tata Consumer, saw his annual pay increase to ?9.5 crore, marking a 24 percent rise from the previous year. Meanwhile, Pradeep Bakshi, CEO, Voltas, experienced a 22 percent increase in his yearly compensation, reaching ?3.8 crore.
According to the report, R Mukunduan, CEO, Tata Chemicals, and Praveer Sinha, CEO, Tata Power, witnessed a 16 percent rise in their yearly salaries. Mukunduan’s annual pay reached Rs 8 crore, while Sinha’s earnings amounted to Rs 9 crore. Additionally, Rajesh Gopinathan, the former CEO, TCS, received a significant remuneration of Rs 29.1 crore.
The salary hikes across various Tata Group companies reflect the recognition and appreciation of the valuable contributions made by these senior executives. It demonstrates the group’s commitment to attracting and retaining top talent while rewarding their leadership and performance.
The Tata Group, renowned for its diverse portfolio of businesses ranging from hospitality to power, has consistently strived to maintain its competitive edge and drive growth in the dynamic Indian and global markets. The significant pay hikes granted to senior executives across the group’s companies serve as a testament to the group’s commitment to fostering excellence, recognising achievements, and incentivising top talent.
These salary increases not only acknowledge the outstanding performance and leadership qualities of these executives but also aim to motivate and encourage their continued dedication and contribution to the success of the Tata Group. The group’s emphasis on rewarding its top performers reflects its commitment to building a strong leadership pipeline and nurturing a culture of excellence and meritocracy.