CEO Pay Packages Expand in India But Ratio To Employee Earnings Hurts
Top executives at leading local and foreign drug firms in India by and large earned more in 2020-21, while differentials in CEO to median employee remuneration remained stark. With increasing scrutiny by shareholders and lawmakers, experts suggest that pharma should be more mindful of balancing “adequate” C-suite compensation and glaring inequalities.
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Most CEOs/MDs at leading listed foreign and domestic drug firms in India took home bigger pay packages in 2021-22, a period that also saw several top-level exits including at Abbott, Pfizer and Sanofi. Scrip examines some of the wider trends around executive compensation.
Duato has been involved for the last several years in growing J&J’s pharma and consumer businesses and has led the company’s COVID-19 efforts. Gorsky is stepping down due to a family health issue.
Managing directors/CEOs of foreign firms in India drew higher remuneration in 2019-20 versus the previous year and overall earnings of peers at Indian firms continued to be way higher in general. CEO-to-employee pay ratios remains stark, reaching over 550 in one case.