Mukesh Ambani forgoes salary for 4th year in a row
In a remarkable display of leadership, Asia’s richest man Mukesh Ambani and the chairman of Reliance Industries has chosen to forgo his salary for the fourth consecutive year.
No salary, no perquisite and no allowance in the financial year 2023-2024.
Ambani’s decision to forgo his salary is rooted from Covid 19 pandemic. It reflects his commitment to ensuring the company’s full recovery and stability before resuming his personal compensation.
His compensation earlier was capped to 15 Crore per year and nil from FY21.
Executive executives such as Nikhil and Hital Meswani and P M S Prasad have been rewarded in their salaries. The company has rewarded the efforts they have made in these tough times of profit loss.
Nita Ambani, on the other hand, who was a non-executive director from that month, also received a commission for her service.
Mukesh Ambani’s move to keep his salary aside is not just personal, but most importantly, it is a very strong signal of leadership. In a world where corporate leadership is often targeted for their
unreasonable pay scales, this example by Ambani shows that the survival of the company as well as the welfare of its workers clearly comes first out of everything.
Guiding a company to prosperity by collective efforts will not only but also making hard choices to manifest the development of the company and the employees’ engagement in the company remain the company to market the best practice. Through the acknowledgment of this gesture of Ambani, CEOs must think widely about the situation of the enterprise and the people.
