The US has entered 17th straight month of recession, but the pay package of its highest-paid CEO exceeds $100 million (over Rs 500 crore) - a figure more than 10 times that of his counterpart in the country of his birth, where economy is still growing at a decent rate.
America's top earning business head, Motorola's co-CEO is India-born Sanjay Jha, who got a package of $104 million in 2008.
In comparison, India's top-paid business chief, Mukesh Ambani of Reliance Industries, got a total remuneration of Rs 44.02 crore (Rs 440.2 million) in 2007-08, the last fiscal year for which the salary data is available.
Ambani's package is just about one-fifth of the same for even Vikram Pandit, also and India-born person and CEO of banking behemoth Citigroup, which had to seek the US government's support to keep running.
With a total payout of over $104 million in 2008, Jha is the only CEO to get a compensation package exceeding $100 million.
Jha joined Motorola in 2008 and serves as co-chief executive officer of Motorola, Inc. and chief executive officer of Motorola's Mobile Devices business.
He is also a member of Motorola's board of directors. Prior to joining Motorola, Jha served as chief operating officer of Qualcomm Incorporated where he oversaw corporate research and development. Jha began his career at Qualcomm in 1994 as a senior engineer.
Text: PTI & Agencies
Image: Motorola's co-CEO Sanjay Jha. | Photograph, courtesy: Motorola Website.
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