INSUBCONTINENT EXCLUSIVE:
The glaring disparity in the compensation of Apollo Tyres managing director Neeraj Kanwar in comparison to his peers had compelled minority
shareholders to vote against his reappointment as managing director for a fresh term of five years.
According to the company's annual
under review was Rs 87.74 crore
As compared to this, the compensation of the promoters of its peers such as MRF, CEAT and Balkrishna Industries hover in the range of 15-56
Neeraj Kanwar for five more years in the second week of September this year
year, commission up to 5 per cent of the total profit and perks restricted to 300 per cent of total salary
Kanwar as MD while 72.7 per cent were in favour
domestic mutual funds such as HDFC, DSP, UTI, and Reliance's asset management companies
HDFC AMC has been increasing its stake in the company for the past four quarters
It currently holds a 4.8 per cent stake in the tyre maker
