Rs. 70 crore pay package proposed for Sunil Mittal
Bharti Airtel has sought shareholders' approval for an annual pay package of up to Rs. 70 crore to its Chairman and Managing Director Sunil Mittal in the next five years, but any hike would not be given in the current fiscal.
"The Human Resource Committee of the board of directors of Bharti Airtel makes recommendation for certain senior level positions which is then approved by the board every year. The Human Resource Committee on July 29, decided for no increment in the remuneration for Sunil Bharti Mittal for the FY 2011-12," claimed a company statement.
The proposal to revise the remuneration of its Chairman and Managing Director, Sunil Bharti Mittal up to a maximum of Rs. 70 crore as proposed in the company's 2011 AGM notice, is an enabling provision for the next five years, and should be seen in that light, the statement further stated.
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