Former Kellogg Dean Dipak C Jain discusses with Arthur J Pais the lessons he has taught, and the ones he has learned.
While Ambani, 66, drew nil salary from the company since the 2020-21 fiscal year, other executive directors including his cousins Nikhil and Hital are paid a salary, perquisites, allowances and commission. His three children - twins Akash and Isha (both 31) and Anant (28 years) - will get only a sitting fee and a commission on the profit earned by the firm.
Billionaire Mukesh Ambani for the second year in a row drew no salary from his flagship firm Reliance Industries in the last fiscal as he voluntarily gave up remuneration in light of the pandemic hitting the business and economy. In its latest annual report, Reliance said Ambani's remuneration for the financial year 2020-21 was "nil". In June 2020, Mukesh D Ambani, chairman and managing director of Reliance Industries, voluntarily decided to forego his salary for the year 2020-21, in light of the COVID-19 outbreak in India, which exacted a huge toll on the societal, economic and industrial health of the nation.
In the previous fiscal year, he drew a Rs 15 crore salary from the company -- the same as in the previous 11 years.
India needs to build on its core strength of samaskaras (values) to achieve the global success and the need of the hour is to introduce new skills and innovativeness in the education system to develop entrepreneurial culture in India.
Dipak C Jain, dean of Kelloggs School of Management, is the fourth highest paid official in Northwestern University, according to a new study.
Saudi Aramco chairman and head of the Kingdom's cash-rich wealth fund PIF Yasir Othman Al-Rumayyan will join the board of Reliance Industries Ltd as an independent director in a precursor to a $15 billion deal. Reliance chairman and Asia's richest man Mukesh Ambani, who had two years back disclosed the talks to sell a 20 per cent stake in the company's oil-to-chemical unit to Saudi Aramco, announced the appointment of Al-Rumayyan at the company's annual meeting of shareholders. Harvard educated Al-Rumayyan, 51, will replace Yogendra P Trivedi, 92, who has expressed a desire to retire, Ambani said. On the sale of a 20 per cent stake in the O2C business, he said the deal is likely to conclude this year.
The book, 'India Can', has received praises from top business leaders including Deepak Parekh and Nandan Nilekani.
Ambani's wife Nita Ambani, a non-executive director on the company's board, earned Rs 600,000 sitting fee.
Wife Nita, who joined the board as non-executive director in FY15, draws Rs 84 lakh
Mukesh Ambani voluntarily capped his compensation at Rs 15 crore in October 2009 amid a debate over right-sizing of CEO salaries.
The consortium will launch programmes in ease of doing business in their respective regions B-schools.
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