Indian CEOs heading Fortune firms

August 8, 2008
Indian-origin CEOs are establishing their prowess across the globe. It may be raining gold for these globe trotting executives as they head more Fortune-listed American firms but, weak dollar, sub-prime crisis and the looming US recession have taken their toll, as total profit of such entities has more than halved in a year's time.
But they are not the only ones. According to the latest Fortune 500 list of America's biggest corporations, which has been topped by retailer Wal-Mart Stores (six times in the past seven years), cumulative net profit of all these firms fell about 18 per cent to $645.2 billion in 2007.
However, the total turnover of America's Fortune 500 firms rose by about seven per cent to $10.6 trillion.
In the main list, Wal-Mart (revenue of $378.8 billion) is followed by energy giant ExxonMobil (372.8 billion dollars). Others in the top 10 include Chevron, General Motors, ConocoPhillips, GE, Ford, Citigroup, Bank of America and AT&T.
The US business magazine Fortune ranks America's biggest firms based on their full-year revenues in this annual list.
Compared to six last year, as many as 10 Fortune firms are now headed by CEOs of Indian origin.
http://specials.rediff.com/money/2008/aug/08slid1.htm

India's highest paid CEO

Mukesh Ambani
Reliance Industries Ltd has given its chief Mukesh Ambani, the country's richest person, a hefty pay hike of about 45 per cent to take his annual remuneration to over Rs 44 crore or ($10 million).
Mukesh Ambani, chairman and managing director of Reliance Industries, got a total payout of Rs 44.02 crore (Rs 440.2 million) in financial year 2007-08, marking an increase of about Rs 13.5 crore (Rs 135 million) from the previous fiscal.
In fiscal 2006-07, Ambani's annual remuneration had increased to Rs 30.46 crore (Rs 304.6 million), from Rs 24.77 crore (Rs 247.7 million), previously.
However, a large part of Ambani's full-year pay cheque comes in the form of commissions that the company pays to select executives as a ratio of its net profits.
According to the company's annual report being sent to shareholders, Ambani got a salary of Rs 60 lakh (Rs 6 million -- Rs 500,000 per month -- and another Rs 48 lakh (Rs 4.8 million) -- Rs 400,000 per month -- in the name of perquisites and allowances.
In addition, he got Rs 18.75 lakh (Rs 1.875 million) under the head of retiral benefits and Rs 42.754 crore (Rs 427.54 million) toward commission on net profit, taking his total to Rs 44.021 crore (Rs 440.21 million) for 2007-08.