Controversy revives on obscene CMD/CEO salaries….take Oswal Chemicals for example

This Sunday morning Biocon’s Kiran Mazumdar-Shaw’s opinion on CEO Salaries and Austerity Measures in DNA caught my eye…just a few days ago,Minister,Salman Khurshid had commented that Corporate CEOs should display austerity…Shaw comments that Government has no business dictating terms to Corporates on this matter as it is decided by shareholders..therefore the controversy and debate is uncalled for !

She must surely realise the influence that Promoters exert over the Board of Directors and the Remuneration Committee….Minority Shareholders simply don’t matter…so any remuneration agenda is easily passed by majority,read Promoter,Shareholders.

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