Airtel seeks shareholders nod for top level appt, pay packages
New Delhi: Bharti Airtel has sought shareholders approval for appointment of top officials, including Sunil Bharti Mittal as executive chairman, and their remunerations.
The company issued notice to shareholders to seek their approval through postal ballot or e-voting by March 25, 2013, Bharti Airtel said in a filing to the BSE.
The company on February 1 had announced changes in board of directors with appointment of Sunil Bharti Mittal as the Executive Chairman, Manoj Kohli as the Managing Director and Gopal Vittal as an Additional Director and Joint Managing Director of the company.
Though company said that no changes will be made in current remuneration of Mittal, its new MD Manoj Kohli is proposed to be paid maximum fix pay of Rs 7.50 crore per annum along with variable pay not exceeding 60 percent of the annual fixed pay.
Vittal is proposed to be paid a maximum of Rs 6 crore per annum along with annual variable pay which will be linked to his performance. The variable pay will not exceed 60 percent of the annual fixed pay in any financial year.