InvestorQ : What happens to Siddharth *** after the shareholders rejected the Eicher MD reappointment and pay hike?
Mitali Bhutta made post

What happens to Siddharth *** after the shareholders rejected the Eicher MD reappointment and pay hike?

Answer
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4 months ago
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Actually, nothing much. Eicher board has gone ahead and reappointed *** as CEO for 5 year tenure with 10% pay hike. The only difference is that they have capped remuneration at 1.5% of profits. Since the previous resolution was rejected due to not getting 75% votes, the board will go back to shareholders for seeking fresh approval. It may not be an issue since the only objection was to the pay hike and not to his reappointment as MD and CEO.

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