{"id":369527,"date":"2020-08-24T10:53:15","date_gmt":"2020-08-24T05:23:15","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=369527"},"modified":"2020-08-24T10:53:15","modified_gmt":"2020-08-24T05:23:15","slug":"petronet-ceo-gets-record-27-pay-hike-as-search-begins-for-successor","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/petronet-ceo-gets-record-27-pay-hike-as-search-begins-for-successor\/","title":{"rendered":"Petronet CEO gets record 27% pay hike as search begins for successor"},"content":{"rendered":"<p>NEW DELHI: Petronet LNG Ltd gave its outgoing chief executive Prabhat Singh a 27% pay hike, a record, even as the country\u2019s largest importer of gas in ships began searching for a new CEO with new conditions.<br \/>\nAccording to the company\u2019s annual report, Singh took home Rs 1.8 crore in 2019-20, including Rs 22.5 lakh commission on profit. He had received Rs 1.4 crore in 2018-19. These were way higher than salaries paid to CMDs of state-run oil companies are promoters of Petronet.<br \/>\nPetronet is registered as a private company promoted by state-run majors IndianOil, GAIL, ONGC and Bharat Petroleum but headed by petroleum secretary as the ex-officio chairman. While CMDs of promoter companies are appointed for five years and retire at 60, whichever is earlier. If the five-year term ends before the retirement age, the incumbent is usually given extension. Petronet CEO is also appointed for a five-year term but retire at 65.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW DELHI: Petronet LNG Ltd gave its outgoing chief executive Prabhat Singh a 27% pay hike, a record, even as the country\u2019s largest importer of gas in ships began searching for a new CEO with new conditions. According to the company\u2019s annual report, Singh took home Rs 1.8 crore in 2019-20, including Rs 22.5 lakh commission on profit. He had received Rs 1.4 crore in 2018-19. These were way higher than salaries paid to CMDs of state-run oil companies are promoters of Petronet. Petronet is registered as a private company promoted by state-run majors IndianOil, GAIL, ONGC and Bharat Petroleum [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,219,137],"tags":[],"class_list":["post-369527","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-times-of-india","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/369527","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=369527"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/369527\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=369527"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=369527"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=369527"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}