The government today lauded RIL chief Mukesh Ambani's decision to take a pay cut and said that the industrialist has shown a "remarkable sensibility" towards the revailing scenario with this voluntary step.
"What Mukesh Ambani has done is laudable...it's a good decision," said Corporate Affairs Minister Salman Khurshid, who recently sparked a debate on executive compensation by advising the industry to shun vulgar CEO salaries.
Yesterday, the country's top corporate house Reliance Industries announced that its Chairman and Managing Director Mukesh Ambani would take a pay cut and it was capping its top compensation of its top executives.
"This is part of a larger debate among corporates themselves and the government would be happy to engage in the debate," Khurshid told reporters here.
"It is about corporate governance, which is not about remuneration alone. It's about internal auditors, about shareholders, about disclosures and accountability.
Source: About Corporate Trends - Mukesh Ambani, The Economic Times