Kochhar powerful; Kavery Kalanithi highest paid: Fortune

Sun TV Network's joint MD Kavery Kalanithi is the highest earner with an annual salary of USD 13.09 million.

Last Updated: Nov 09, 2011, 23:25 PM IST

New Delhi: ICICI Bank chief executive Chanda Kochhar has been named as the most powerful woman in Indian business but when it comes to pay, Sun TV Network's joint MD Kavery Kalanithi is the highest earner with an annual salary of USD 13.09 million, according to Fortune magazine.

With a pay packet of USD 13.66 million, Jindal Steel chairman Naveen Jindal is the highest paid business man, followed by Sun TV Network chairman and Kavery's husband Kalanithi Maran, whose annual package is USD 13.09 million.

In the Fortune list of 50 most powerful businesswoman, Kochhar is followed by former ICICI executive and Axis Bank MD and CEO Shikha Sharma at the second spot.

Two other former ICICI executives -- JP Morgan India CEO Kalpana Morparia (16th rank) and Multiples Alternate Asset Management's founder and CEO Renuka Ramnath (20), also feature in the league.

TAFE's chairperson Mallika Srinivasan (3), Capgemini India CEO Aruan Jayanthi (4), AZB Partners co-founder Zia Mody (5) and Britannia Industries managing director Vinita Bali (6) feature in the list, which would be published in the magazine this week.

HT Media chairperson and editorial director Shobhana Bhartia is at the seventh spot, followed by National Stock Exchange joint managing director Chitra Ramakrishna (8), Biocon chairman and MD Kiran Mazumdar (9) and RIM India's former MD Frenny Bawa at 10th slot.

Interestingly, Kochhar, who is also ICICI Bank's MD, does not find a place among the ten highest paid women executives in the country.

Other prominent names in the power list include HSBC India group general manager and country head Naina Lal Kidwai (12), Apollo Hospital Enterprises MD Preetha Reddy (13), Facebook India head Kirthiga Reddy (21), HDFC Managing Director Renu Sud Karnad (35) and UBS chairperson and MD Manisha Girotra (48).

From entertainment space, there are at least two women --Joint Managing Director, Balaji Telefilms joint MD Ekta Kapoor (31) and Three's Company co-founder Farah Khan (42).

Among the top ten highest paid women executives, Peninsula Land chairperson Urvi A Piramal is at the second place with USD 1.74 million pay, followed by Preetha Reddy (USD 1.11 million) and Vinita Bali (USD 1.03 million).

With a pay of USD 6.23 million, Hero Motocorp MD and CEO Pawan Munjal (USD 6.28 million) is the third highest paid business man, followed by Hero Motocorp chairman Brijmohan Lall Munjal (USD 6.23 million).

Reliance Industries chairman Mukesh Ambani, who was once the highest paid executive in the country, does not feature in the list, since he has fixed his pay at around Rs 15 crore for the past three years, starting from 2008-09.

In 2007-08, he had topped the highest paid executives league with a pay packet of Rs 44 crore.

Meanwhile, Kavery Kalanithi might be the most paid woman executive, but her package is just about one-third of the highest paid US business woman -- Oracle president and CFO Safra A Catz.

According to Fortune, Catz's salary is USD 42.09 million.

The American list of highest paid women executives also features Pepsico's India-origin chairman and CEO Indra Nooyi at ninth position, with a pay of USD 14.03 million.