Paytm has announced a salary revision for its board members, capping non-executive level compensation at Rs 48 lakh annually, with a fixed component of Rs 20 lakh, ahead of its annual general meeting (AGM) on September 12, 2024. This move is subject to shareholders’ approval.
The company's statement, released on August 21, stated, “Paytm’s board of directors has opted for a significant salary revision, highlighting their commitment to the company’s responsible financial discipline and good corporate governance.”
Paytm has set the non-executive level compensation at Rs 48 lakh, with a fixed portion of Rs 20 lakh, as part of the revised remuneration structure pending shareholders' approval, according to the company.
The board is also seeking approval for the appointment of Rajeev Krishnamuralilal Agarwal, a former Indian Revenue Services officer, as a non-executive independent director and the reappointment of Ravi Chandra Adusumalli of Elevation Capital.
Previously, Ashit Ranjit Lilani earned Rs 1.65 crore, while Gopalasamudram Srinivasaraghavan Sundararajan received Rs 2.07 crore annually.
The revised structure aims to align with industry benchmarks and strengthen financial prudence.
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