More independent directors break into crore-plus pay club
A recent analysis of reporting data of NSE listed companies reveals that the number of directors in the crore-plus club has increased to 135 in FY22 from 105 in FY19 as some top Indian companies are ready to pay a premium for those who can contribute toward strategic growth and corporate governance at a time when many firms are expanding globally and going through rapid technology transformation. The number of independent directors earning over Rs 1 crore is on the rise in India, driven by demand for high-calibre board members whose role is no longer restricted to mandatory regulatory requirements. Companies are seeking people who can participate in brainstorming ideas and providing an impetus in specialised focus areas such as ESG (environmental, social, and corporate governance), sustainability, compliance and risk assessment.
Hindustan Unilever Ltd, Reliance Industries Ltd, TCS, Infosys, Tata Steel, Tata Motors, Ambuja Cement, Dr. Reddy’s Laboratories, Tech Mahindra, L&T, Cipla etc are some the top companies which are paying best in the class compensation for exper services.
