New Delhi: Chitra Ramkrishna, who has been replaced by Vikram Limaye as head of NSE, had drawn about Rs 23 crore as the total compensation of the last eight months of his term, according to the annual report of the exchange.
The compensation for the period from April to November of the last fiscal year in which she served in NSE was three times more than Rs 7.87 crore she had won throughout 2015-16.
Ramkrishna, who had been with the NSE since its inception in 1992, had ceased to be the Managing Director and CEO of the country’s main stock market on December 2 last year.
The National Stock Exchange (NSE), which is preparing for the initial public offering of almost Rs 10,000, paid its remuneration of Rs 22.98 million. This included variable salary, holiday pay, holiday travel allowance, medical allowance and gratuity.
However, the payment package “excluded 50 percent of the variable remuneration of Rs 1,58 million payable after three years.” Limaye, who joined NSE as of today, would get a payment package of Rs 8 crore, sources said.
“The Board left on its record (Ramkrishna) the contribution of the pound sterling to the growth of the Organization over the long years it had been associated with it,” said NSE.
Ramkrishna was one of the few leading women leaders in the world’s major stock exchanges. She was part of the leadership team that helped establish the NSE in the early 1990s and was only the third person to lead the stock market in its entire history of about two decades.
She succeeded Ravi Narain as the head of NSE, who also served in several leadership roles in the exchange since its inception. Narain served as Deputy General Manager of NSE in his first six years and as MD and CEO thereafter. Narain had succeeded R H Patil, who was the first head of the NSE.
