In a half-yearly disclosure to the bourses, L&T owned Mindtree disclosed the quantum of dividend for its top management.
According to its filing on Thursday, the dividends paid to directors during the quarter and year-ended March 31, 2020 amounted to ₹ nil and ₹39.7 crore. respectively, while for the corresponding periods, for the quarter and year ended March 31, 2019, it amounts to ₹4.4 crore and ₹16.2 crore respectively. Further, during the year ended March 31, 2020, 7,875 shares were allotted to the key managerial personnel.
Debashis Chatterjee was appointed last year as the CEO and Managing Director for a period commencing from August 2, 2019 to August 1, 2024.
Mr. Chatterjee, who is Mindtree’s first non-founder CEO, is expected to get a fixed compensation of ₹7.5 crore annually. In addition to that, he is also eligible for a variable pay of ₹88.4 lakh. The variable pay would depend upon his performance which includes providing leadership, initiating strategic initiatives and for organisation development.
Mr. Chatterjee replaced the previous CEO, Rostow Ravanan.
Following this, the leadership team of Krishnakumar Natarajan, executive chairman, N.S. Parthasarathy, executive V-C and chief operating officer and Rostow Ravanan, CEO and MD of the company had resigned from the board.