Mahindra & Mahindra Group is one of the oldest business houses in India. The company currently operates in sectors ranging from automobiles to finance and hospitality. The group has recently decided to increase the salaries of its MDs. However, the Mahindra Group has said that the salary increase will be implemented only after the shareholders’ approval.
New Salary
Dr Anish Shah has worked with the Mahindra Group since 2014. He joined as Group President of Strategy and has now risen to the top. Mahindra Group’s proposal to pay Rs 30 to 55 lakh per month to Shah was presented before the board of directors. The Board of Directors has approved this proposal.
Now this salary increase proposal has been submitted to the company’s shareholders. Mahindra Group said this salary would be implemented only after the shareholders’ approval. Previously, Dr Shah got a monthly salary of 18 to 30 lakh rupees.
Shah has these responsibilities.
The increased salary of MD Dr Shah will be effective from August 1, 2023, till March 31, 2025, the company said in its annual report. He is the Managing Director and Chief Executive Officer of Mahindra & Mahindra Limited and Chairman of Mahindra & Mahindra Financial Services Limited and Mahindra Logistics Limited. He is also Independent Director of Mahindra Lifespace Developers Limited, Tech Mahindra Limited and Mahindra Holidays & Resorts Limited, Additional Director of Tech Mahindra Foundation and Senior Vice President of FICCI.
