Gopal Vittal reappointed as Airtel managing director
Bharti Airtel’sshareholders have approved the re-appointment of GopalVittal as managing director of the company for a period of five years with effect from February 1, 2023.
Over 97 per cent of the total votes polled were in favour of the resolution, and the same“has been passed with a requisite majority”, the telco said in a regulatory filing on the outcome of its annual general meeting (AGM).
The shareholders also approved a special resolution related to payment of remuneration to Vittal as managing director and CEO of the company, with 89.57 per cent votesin favour and 10.42 per cent against the proposal.
“Therefore, the above resolution has been passed with requisite majority,” the filing said. The AGM of the company was held on August 12.
According to the notice of the AGM dated July 21, shareholders’ approval was sought for “re-appointment of GopalVittal as managing director(designated as managing director and CEO) for a further period of five years with effect from February 1, 2023, liable to retire by rotation...”
Vittal was re-appointed as the managing director and CEO with effect from February 1, 2018 for a period of five years, (up to January 31, 2023). His re-appointment was due for another term of five years(that is from February 1, 2023, to January 31, 2028).
The AGM agenda circulated earlier, giving out the details of the proposed remuneration to be paid to Vittal, mentioned the fixed pay to beRs 9.6 crore per annum.