Latest news with #EmployeeStockOwnershipPlan
News18
5 days ago
- Business
- News18
ITC CEO Salary Revealed: Sanjiv Puri Earns Rs 25.66 Crore During 2024-25; Details Here
Last Updated: Sanjiv Puri's salary of Rs 25.66 Crore includes a basic pay of Rs 3.53 crore, perquisites and other benefits of Rs 73.46 lakh, and performance bonus of Rs 21.39 crore in 2024-25. ITC CEO Salary: ITC Chairman and Managing Director Sanjiv Puri received a total remuneration of Rs 25.66 crore during the financial year 2024-25, according to the company's annual report 2025. It is 1.5% higher than the total remuneration of Rs 25.28 crore he received in the previous year. Puri's salary includes a basic salary of Rs 3.53 crore, perquisites and other benefits of Rs 73.46 lakh, and a performance bonus of Rs 21.39 crore during 2024-25, compared with Rs 3.12 crore, Rs 57.7 lakh and Rs 21.48 crore, respectively, during the previous year FY24. Puri's total pay is 377 times higher than the media employee salary at ITC, according to the annual report. Employees' median remuneration rose by 7%, it added. Puri was also granted a total of 1,34,500 stock options during 2024-25. As of March 2025, the CMD of ITC Ltd held 4,52,843 ordinary shares. Last year (2023-24), Puri had got a 54.38% jump in total salary from the Rs 16.31 crore he got in 2022-23. Puri joined ITC in January 1986, and is currently the chairman and managing director of the FMCG giant since 2019. He is also the president of the Confederation of Indian Industry (CII), the apex business and industry association in the country. TCS CEO K Krithivasan Salary: The total remuneration of TCS head for FY25 is estimated of Rs 26.52 crore. His package included Rs 1.39 crore in fixed salary, Rs 2.12 crore in benefits and allowances, and a substantial commission payout of Rs 23 crore, forming the largest chunk of his earnings. Wipro CEO Srinivas Pallia Salary: As per Wipro's annual report, Srinivas Pallia earned Rs 53.60 crore in FY2024-25 including salary, variable pay, long-term compensation and other benefits. On April 6, 2024, Thierry Delaporte resigned as the Chief Executive Officer and Managing Director of the company. Tech Mahindra CEO Mohit Joshi Salary: Mohit Joshi, the CEO of Tech Mahindra, received an annual pay of Rs 52.1 crore for the financial year 2024-25, according to the company's latest annual report. His compensation includes earnings from the Employee Stock Ownership Plan (ESOP), making his total pay a staggering 840 times higher than the average employee salary at Tech Mahindra. First Published: June 27, 2025, 17:12 IST
India.com
7 days ago
- Automotive
- India.com
Meet man, who receives salary 800 times higher than that of an average employee, CEO of THIS big company, his salary is..., he owns...
Meet Man who owns India's oldest Ferrari, gets His supercar delivered to his office in..., he is not Mukesh Ambani, Gautam Adani, Birla, his name is... New Delhi: The IT sector is considered to be one of the highest-paid sectors not only in India but globally as well. In companies like Infosys, TCS, and Wipro, employees earn salaries in lakhs, while top executives receive packages worth crores. Mohit Joshi, the CEO of Tech Mahindra, is one such high-earning executive. According to Tech Mahindra's annual report, Mohit Joshi earned Rs 52.1 crore as salary in the financial year 2024–25. Salary 800 Times Higher Than an Average Employee Joshi's income, as the CEO of the company, includes the value of the Employee Stock Ownership Plan (ESOP). Notably, Tech Mahindra CEO Mohit Joshi's annual earnings are 840 times higher than the average salary of the company's employees. However, the company did not disclose the year-on-year increase in Mohit Joshi's salary package. Another notable point is that Mohit Joshi's salary was significantly higher than the earnings of the CEO of Tata Consultancy Services (TCS), the country's largest IT company. Higher Earnings Than TCS CEO In the financial year 2025, TCS CEO K. Krithivasan received a salary hike of 4.6 percent, while Infosys chief Salil Parekh earned Rs 80.6 crore — a 22 percent rise in his compensation. Mohit Joshi was appointed as the CEO of Tech Mahindra in March 2023. He took over the role following the retirement of C.P. Gurnani.
Business Upturn
24-06-2025
- Business
- Business Upturn
Darwinbox Completes 3rd ESOP Buyback in 4 Years, Reinforcing Commitment to Share Success with Employees
Darwinbox, a leading global provider of AI-powered HR technology, has successfully completed an INR 86 crore Employee Stock Ownership Plan (ESOP) buyback, the third such program in just four years. Over 350 employees spread across the company's 11 global offices in India, North America, Southeast Asia, and the Middle East, benefited from this buyback round. This marks Darwinbox's third buyback in just four years, reflecting the company's continued commitment to rewarding the people behind its growth and building shared success as it scales globally. 'At Darwinbox, we've always believed that those who help build value should share in it. Even as we invest deeply in innovation and global growth, we remain equally committed to creating meaningful outcomes for our people. This buyback, like the ones before, reflects our belief in sharing success with our people and building a culture of ownership,' said Jayant Paleti, Co-founder, Darwinbox. 'Talent has always been at the heart of what we do at Darwinbox, and we've been intentional about ensuring they grow with the company—not just in impact, but also in wealth creation. Some of the best minds from the industry have joined us to help shape the future of work. As we double down on R&D to power an AI-first world, we're excited to welcome great talent on this journey,' said Chaitanya Peddi, Co-founder at Darwinbox. In March 2025, Darwinbox added global private equity giants Partners Group and KKR to its cap table through a $140 million deal—further strengthening its position to lead on two critical fronts: deep technology innovation and global market expansion. That momentum is evident in a series of breakthrough AI product launches. Darwinbox recently became the first-ever HCM platform globally to launch an MCP (Model Context Protocol) Server, enabling any compatible AI agent to interact securely with HR data and workflows on the platform. The company's GenAI engine, Darwinbox Sense, now delivers over 40+ embedded AI capabilities, driving smarter decisions and elevated experiences. Darwinbox also recently rolled out a multi-country payroll solution across 10 new geographies within the last year, solidifying its capability to serve complex global organizations. Darwinbox powers modern HR technology experiences for over 4 million employees across 1000+ enterprises, from large conglomerates to high-growth tech companies. Brands like Starbucks, McDonald's, AXA, Cigna, WeWork, Airtel, and Vedanta trust the platform to power their people strategies at scale. The trust of its customers is paralleled by analyst recognition. Darwinbox has been named a Customers' Choice on Gartner Peer Insights for four years in a row. It is also the youngest and only Asian company to be recognized as a Challenger in the Gartner Magic Quadrant for Cloud HCM Suites for enterprises with over 1,000 employees, validating its growing global influence in a space long dominated by legacy players. Disclaimer: The above press release comes to you under an arrangement with Business Wire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash
Miami Herald
09-06-2025
- Business
- Miami Herald
Joel and Mark Neidig of ITAMCO Honored With ACG Indiana Annual Small Cap Value Award
ARGOS, INDIANA / ACCESS Newswire / June 9, 2025 / Joel and Mark Neidig, Co-Chief Executive Officers of ITAMCO (Indiana Technology and Manufacturing Companies), have been honored with the ACG Indiana Annual Small Cap Value Award - a prestigious accolade that recognizes the company's exceptional leadership, innovation, and enduring impact on the manufacturing and technology landscape. The award, one of the most competitive distinctions in the region, was the result of a unanimous vote by the ACG Indiana selection committee. The Association for Corporate Growth (ACG) is a global organization focused on driving middle-market growth. Its Indiana chapter annually celebrates top-performing companies that embody strategic excellence, value creation, and leadership integrity. The Small Cap Value Award spotlights organizations that consistently deliver exceptional results while embodying the entrepreneurial spirit. "This award means so much because it reflects the dedication of every employee-owner at ITAMCO," said Joel Neidig. "Being a 100% Employee-Owned Company through our ESOP (Employee Stock Ownership Plan) is core to who we are. Every person here has a stake in our success, and that shared ownership drives a culture of accountability, innovation, and pride." Founded in 1955, ITAMCO has transformed from a precision gear manufacturer into a national leader in advanced manufacturing and digital technology integration. Today, it uniquely blends legacy craftsmanship with future-facing innovation, incorporating additive manufacturing, blockchain, Industrial IoT, and smart factory solutions. The company's 100% ESOP ownership structure plays a central role in its success. As a fully employee-owned company, ITAMCO fosters a culture where every team member is empowered and invested. This shared sense of purpose not only enhances performance and customer satisfaction but also strengthens long-term strategic thinking. "The ESOP is more than a financial structure - it's a cultural foundation," added Mark Neidig. "It encourages a deep sense of ownership at every level of our company, and that collective mindset is what fuels our drive to lead, adapt, and grow. This is why our incredible team has earned this award." The ACG Indiana committee cited ITAMCO's unique employee ownership model, rapid innovation adoption, and unwavering leadership as decisive factors in its unanimous selection. With its eyes on the future and a foundation rooted in shared ownership and values, ITAMCO continues to redefine what it means to be a next-generation American manufacturer. About ITAMCOITAMCO (Indiana Technology and Manufacturing Companies) is a 100% employee-owned manufacturing and technology company based in Argos, Indiana. Established in 1955, ITAMCO delivers precision gear manufacturing, additive manufacturing, and cutting-edge digital solutions to industries including aerospace, defense, energy, and transportation. Its employee-owned structure fuels a culture of innovation, pride, and long-term growth. About ACG IndianaThe Association for Corporate Growth (ACG) is the premier global community for middle-market M&A deal-makers and business leaders focused on driving growth. ACG Indiana's annual awards honor the state's most distinguished companies for outstanding performance, innovation, and leadership. SOURCE: ITAMCO press release
Yahoo
05-06-2025
- Business
- Yahoo
Madison Global Becomes 100% Employee-Owned
Company becomes one of the first in the social recognition and groups, meetings and events industries to complete full transition to employee stock ownership plan NEW YORK, June 05, 2025--(BUSINESS WIRE)--Madison Global, a premier provider of social recognition solutions and group meetings and events, proudly announces its transition to a 100% employee-owned company through the successful completion of its Employee Stock Ownership Plan (ESOP). This milestone marks Madison as one of the first in its sector to achieve full employee ownership, reinforcing its commitment to people-first values and long-term sustainability. "For over 50 years, Madison has empowered organizations to inspire, engage, and recognize their employees," said Alex Alaminos, President & CEO of Madison Global. "Today, we're proud to extend that same spirit of recognition inward. Becoming 100% employee-owned is more than a structural change—it's a bold affirmation of our belief that our people are our greatest asset. It aligns our collective success directly with those who drive it every day." An ESOP is a qualified retirement plan that provides employees with beneficial ownership of the company through shares held in a trust. With this transition, all shares of Madison Global are now held by its employees, ensuring that every team member has a direct stake in the company's future. The advantages of employee ownership extend far beyond structure, delivering strategic value that includes: Stronger employee engagement and morale: A shared sense of ownership encourages deeper commitment and accountability. Reduced turnover: Employee-owned companies typically experience greater retention and loyalty. Operational resilience: ESOP companies often demonstrate stronger performance through economic cycles. Financial advantages: ESOPs bring tax efficiencies that enhance cash flow and support reinvestment. Talent attraction and retention: Ownership can be a compelling differentiator in competitive job markets. Madison's ESOP journey began in 2023 as part of a long-term succession and growth strategy focused on preserving independence while amplifying its legacy of innovation and service excellence. "Since founding Madison in 1974, I've always believed that great companies are built by great people," said Werner Haase, Founder and Executive Chairman. "This transition ensures that our team—who have always been the heart of our success—are now also the stewards of our future. It's a proud moment and a natural evolution of our values." As Madison Global enters this new chapter, it remains focused on delivering exceptional client experiences—now powered by the passion, purpose, and partnership of 100% employee ownership. About ESOPs The Employee Stock Ownership Plan (ESOP) is a retirement benefit that enables employees to earn shares of stock in the company where they work. First created in 1974, there are approximately 6,700 ESOP businesses in the United States, employing about 14 million employee-owners. At Madison Global, the ESOP benefit is being provided in addition to other benefits. According to research compiled by the National Center for Employee Ownership (NCEO), ESOP-owned companies tend to outperform comparable firms in their industry and show more resilience in recessions. Employees in firms with an ESOP have 2.2 times as much in retirement savings compared to employees in non-ESOP companies. About Madison As a global leader in Social Recognition and Groups, Meetings & Events, Madison provides enterprise-class organizations with employee recognition, incentives and service anniversary programs designed for the needs of today's ever-changing workforce. Madison's recognition strategy focuses on making managers mentors, reinforcing a sense of belonging, celebrating personal and professional milestones, and emphasizing inclusion and diversity. View source version on Contacts MEDIA CONTACT info@
