Do you wish to know – How much does the CEO of IOCL make a month? What is the work profile for such a designation? What exactly it is to be the CEO of IOCL? The profile of a CEO looks glamorous. You get to travel, your expenses are born by the company, you get to live in luxury hotels, you enjoy a great reputation and of course a handsome bank balance. But there’s much more in a CEO’s profile.
Indian Oil Corporation Ltd. makes a massive revenue of 4.21 lakh crores INR (US$63 billion) a year being the largest commercial oil company in the country. The employee strength is around 35000. The company operates not just in India but Sri Lanka, the Middle East and Mauritius.
A company’s shareholders are crucial for it and hence Board of Directors have to remain answerable to them. Thus, the CEO who is the head of operations has to remain answerable to the Directors. Along with the functional directors, the CEO of IOCL has to play a significant role in ensuring that every project undertaken follows a strategical action plan. For firms as huge as a Navratna, becoming a chairman is not an easy task. Different departments have their own Directors and being in charge of all of it is a big deal.
As the head of such a big firm, one needs to hold expertise in various profiles. You need to stick to the company for a considerable span and understand the basic machinery behind everything that is done. A CEO is responsible for anything and everything that is executed. Making plans, finding solutions to problems, making strategies, allocating budgets, taking care of employees welfare and so on.
Holding the chair is a tireless work and whatever remuneration is offered to the CEO is deserved. The salary offered to IOCL’s CEO is stated in the table below:
Annual Compensation of CEO of IOCL
|Total Annual Compensation||Rs 7,919,212|
|All Other Compensation||Rs 1,194,499|
|Total Annual Cash Compensation||Rs 9,113,711|
|Total Calculated Compensation||Rs 9,113,711|