Next Sebi chief's salary only a fraction of CEOs'

NEW DELHI: Hundreds of listed companies, regulated by Sebi, may be paying crores of rupee annually as salary to their CEOs, but the next chief of the market watchdog will get only `3 lakh a month. The government has proposed a consolidated monthly salary of Rs 3 lakh for Sebi’s new chairman.

This translates into an annual package of `36 lakh for the Sebi chief. The salary package of the current Sebi chairman CB Bhave, whose term ends in February 2011, could not be ascertained. Sebi regulates all listed companies in India and it is quite common for most of them to pay salaries running into crores of rupees for their CEOs and other top management personnel.

As per the latest data, at least 265 companies have disclosed having paid annual remuneration of a minimum of `1 crore to their chiefs and other top management staff in the 2009-10 fiscal.