Mahindra Group’s managing director & chief executive officer, Anish Shah, is set to get a hike of around 83 per cent taking his basic monthly salary to a scale of ₹30-55 lakh per month, according to the company’s annual report.
Basic Salary Scale:
₹30,00,000 to Rs. 55,00,000 per month with effect from August 1, 2023, to March 31, 2025.
Performance Pay:
Performance Pay is based on his performance and the performance of the company to an amount not exceeding 235% of the Annual Basic Salary from the Financial Year 2022-23 to the Financial Year 2024-25.
Who is Anish Shah?
The MD and CEO of the Mahindra Group, Anish Shah, joined Mahindra Group in 2014, as Group President (Strategy), and worked closely with all businesses on key strategic initiatives, built capabilities such as digitisation & data sciences and enabled synergies across group companies, his profile page on the company’s website said.
Mahindra’s executive director also gets an 84 per cent hike
Along with Shah, Rajesh Jejurikar, who has been leading the automotive division as the executive director since April 2020, will get a salary hike of 84 per cent, from ₹26 lakh per month to ₹48 lakh per month. His performance pay is based on his performance and linked to the company’s performance is set to an amount not exceeding 235% of the Annual Basic Salary from FY2023 to FY2025, the report added.
