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Tata Motors seeks government approval to pay MD Butschek

The Tata Motors management approved a yearly 2016-17 pay of Rs 27.24 crore to the former Airbus executive

Guenter Butschek

Constrained by the Companies Act, India's biggest automobile company, Tata Motors, is seeking approval from the central government for the salary package finalised for its newly appointed managing director Guenter Butschek. The Tata Motors management approved a yearly 2016-17 pay of Rs 27.24 crore to the former Airbus executive who joined the Mumbai-based company in mid-February this year. This makes Butschek the company's highest-paid executive, as his remuneration package stands at more than twice the size of his predecessor Karl Slym (at Rs 12.84 crore) and more than four ...