Cyient Limited announced the appointment of Mr. Sukamal Banerjee Mirnal as Executive Director and Chief Executive Officer for a term of 5 consecutive years from 19 February 2025 to 18 February 2030.
The appointment is subject to shareholders' approval via postal ballot through electronic voting.
Mr. Mirnal's remuneration includes:
Basic Salary in the range of USD 530,000 (₹4.50 crore) to USD 710,000 (₹6.03 crore) per annum.
Commission up to 1% of Profit After Tax (PAT) of the company.
Retention compensation totaling USD 21,18,826 (₹18.0 crore) over 5 years.
Perquisites and benefits including stock options (joining grant of 200,000 options and annual grant of 40,000 options) and long term incentives.
The remote e-voting period will commence on 16 April 2025 (9:00 a.m. IST) and end on 15 May 2025 (5:00 p.m. IST).
The cut-off date to determine voting eligibility is 11 April 2025.
The resolution for appointment is being passed through postal ballot, and members are requested to vote electronically.