Pawan Munjal of Hero Motocorp becomes the Highest Paid Director of India

From bicycle parts maker to the country’s biggest two-wheeler company, Hero Motocorp has come a long way and making its presence felt around the globe. A Brainchild of Munjal family, it is well expected that the Heroes behind the Hero Motocorp gets a hefty package in their name every year. Leaving everyone behind, Mr Pawan Munjal, the Director of Hero Motocorp has emerged as a highest paid Director among the top five private companies of the country.

According to the reports, Mr Pawan Munjal packed a hefty amount of Rs. 43.91 crores last year as his paycheck. Following the same line, the two other members of the Hero family, the late Brijmohan Lall Munjal, who passed away earlier this year and Sunil Kant Munjal were ranked second and third in the list of highest paid directors during the 2014-2015 fiscal year and drawn a sum of Rs. 43.64 crores and Rs. 41.87 crores respectively.

If reports are to be believed, the total package of Mr. Pawan Munjal is 1.84 percent of the company’s net profit of the year. Out of Nifty-50 companies, 34 companies under InGovern’s survey disclosed the paychecks of their heads, whereas Bajaj Auto, Bosch and Maruti Suzuki shied away. The other companies in the top ten list were Larsen & Toubro, Bharti Airtel, Lupin, TCS, Hindalco and Ultratech Cement.

Under the leadership of Pawan Munjal, Hero Motocorp has grown rapidly in the past decade. Right from its separation with its longtime Japanese partner Honda, and setting up an entirely new R&D division, the company has scaled new heights. Even on the sales, the Indian automaker is now focusing on scooter market with its recent launches like Maestro Edge and Hero Duet.