Siddhartha Lal re-appointed as MD of Eicher Motors

The Board has now approved a revised remuneration structure for the post.

Siddhartha Lal has been re-appointed to the post of Managing Director of Eicher Motors, with effect from May 1, 2021.

Earlier this month, a 'special resolution' seeking Lal's re-appointment to the post was voted down by the shareholders as it proposed a 10% salary hike for the top-exec.

The Board has now approved a revised remuneration structure for the post, with a maximum cap of 1.5% of profits as per Section 198 of the Companies Act. The revised proposal will now go back to shareholders for approval through a postal ballot.

Source: ET Auto