Discover the latest update on Mahindra CEO Anish Shah’s salary hike in FY24. Learn about his impressive earnings, Chairman Anand Mahindra’s remuneration, and more.
Mahindra CEO Anish Shah’s Salary Was ₹24.22 Crore in FY24, Chairman Anand Mahindra Was Paid ₹5.15 Crore
Mahindra and Mahindra shared its annual report for the year ending in March 2024. This was before their annual general meeting in July.
What Happened: The report shows that the CEO, Anish Shah, earned a total salary of ₹24.22 crore for the year. This amount includes benefits and the value of stock options he used. His pay went up by about 47% from ₹16.44 crore in March 2023. Anish Shah’s salary is about 222 times more than the company’s average salary, which is around ₹10.90 lakh. The average salary of employees went up by 6.86%.
After Pawan Goenka retired in 2021, Shah became the managing director and CEO of the Mahindra Group. Before Mahindra, Shah was the president and CEO of GE Capital India from 2009 to 2014. He helped change the business and improved the SBI Card joint venture. Shah worked for 14 years at GE in many leadership roles. He also led Bank of America’s US Debit Products business and worked with Bain & Company in Boston and Citibank in Mumbai.
Chairman Anand Mahindra earned a total salary of about ₹5.15 crore for the year. This includes fees and commission. This is a small increase from the ₹5.14 crore he earned last year.
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