Kingfisher Airlines crisis: Some curious numbers that depict the sad plight

In 2010, Vikram S Pandit, the India-born CEO of Citigroup, which was nearly blown away by the global financial crisis, rejected a lucrative compensation package. Instead, he took home a salary of $1 for a second straight year.
The previous year, he had pledged before a Congressional hearing that he would continue to accept the token amount until he steered the bank back to profitability.
Pandit was not the first CEO nor the last to take a pay cut as companies lurched from one crisis to another. Actually, examples are legion. As recent as this August, Andrew Miller, the chief executive of Guardian Media Group, agreed to a 10% pay cut and waived a £174,000 bonus in the year to end March after the company reported a pre-tax loss of £75.6 million.
09/09/12 Economic Times

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Categories: Kingfisher Sep 2012