Key Points
Bengaluru: Independent directors at India's top blue-chip companies have seen a sharp rise in their compensation as their roles become increasingly challenging amid mounting business complexities, intense stakeholder scrutiny, and stricter regulatory requirements...
The median compensation for independent directors at these firms has more than doubled to 72 lakh in FY23, from 35.5 lakh five years ago, an analysis of Nifty 50 companies by specialised executive compensation advisory firm, Exec-Rem Advisors shared with ET has revealed...
Independent directors in the 75th percentile of Nifty 50 companies earned an average of 1.04 crore in FY23, up from 67.6 lakh in FY18..
At the lower end, companies in the 25th percentile paid independent directors an average of 43.8 lakh, more than double from 19.18 lakh in FY18, the study showed...
Anubhav Gupta, MD of Exec-Rem Advisors, said the trend reflects companies compensating independent directors suitably for the extra time and effort spent in ensuring good corporate governance...
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