India Inc to take up 'salaries' with PM
Top guns feel that retention of CEOs in a global mkt would be possible only through higher pay packages.
By Pramugdha Mamgain, TNN |
NEW DELHI: Prime minister Manmohan Singh’s suggestion to industry to desist from excessive remuneration to promoters and CEOs has created unrest among companies. A 25-member delegation comprising top company excutives would shortly meet the PM on the issue. The idea of meeting the PM is the outcome of the meeting of Assocham’s managing committee on Thursday. Company executives of the Tatas, AV Birla group, Reliance, Videocon, Jindal group, Nicholas Piramal, DLF, ONGC, HPCL, Power Finance Corporation and BPCL discussed this issue in the meeting.
Assocham secretary general DS Rawat confirmed the move saying that the chamber would send a letter to the PM’s principal secretary seeking an appointment within a week. He said the company officials would meet the PM and urge him not to take up the issue anymore.
The delegation will be led by Assocham president Venugopal Dhoot, with representation from Reliance, Tata Sun, AV Birla, Singhania and Ruia groups. Besides, senior officials of public sector companies such as ONGC, HPCL, Power Finance Corporation and HPCL would also join.
Majority of the CEOs present in the meeting felt that retention of CEOs in a global marketplace would be possible only through higher pay packages.
Assocham secretary general DS Rawat confirmed the move saying that the chamber would send a letter to the PM’s principal secretary seeking an appointment within a week. He said the company officials would meet the PM and urge him not to take up the issue anymore.
The delegation will be led by Assocham president Venugopal Dhoot, with representation from Reliance, Tata Sun, AV Birla, Singhania and Ruia groups. Besides, senior officials of public sector companies such as ONGC, HPCL, Power Finance Corporation and HPCL would also join.
Majority of the CEOs present in the meeting felt that retention of CEOs in a global marketplace would be possible only through higher pay packages.
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