A non-executive director typically does not engage in the day-to-day management of the organisation
A non-executive director is a member of a company’s board of directors but not part of the executive team. A non-executive director typically does not engage in the day-to-day management of the organisation, but is involved in policy-making and planning exercises.
In a filing to the Registrar of Companies on Monday, Tata Sons communicated the change in designation.
The filing declared his category as “professional”. This categorisation was despite two Mistry family-owned entities namely, Sterling Investment Corp and Cyrus Investments, holding 18.4 per cent stake in Tata Sons.
Till Monday, Mistry was designated as the executive chairman. For the year ended March 2016, he drew a total remuneration of Rs 17.6 crore from Tata Sons. This included a gross salary of Rs 5.6 crore and a commission of Rs 11 crore.
The non-executive directors of Tata Sons drew a remuneration between Rs 1.3 crore and Rs 1.5 crore.
Photograph: PTI Photo
Cyrus Mistry's Vision 2025 scrapped
Consolidation and clearing telecom mess are top jobs for Tata
Tatas might find it tough to get an outsider
What is the best legal bet for Cyrus Mistry?
Was Cyrus Mistry a victim of back-seat driving?