Aakash CEO Deepak Mehrotra will get annual salary of Rs 5 crore: Report
Deepak Mehrotra who was appointed as the Managing Director (MD) and Chief Executive Officer (CEO) of Aakash in April this year will get a monthly salary of Rs 41.66 lakh
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The CEO of Byju's owned Aakash Educational Services Ltd (AESL) will reportedly receive an annual remuneration of Rs 5 crore from the current fiscal year.
As per the report by Entrackr, Deepak Mehrotra who was appointed as the Managing Director (MD) and Chief Executive Officer (CEO) of Aakash in April this year will get a monthly salary of Rs 41.66 lakh, including HRA, special allowance, and provident fund effective from April 2024.
Mehrotra will get a maximum of 20% bonus on the annual salary bonus on achieving the company's goals.
The board of the ed-tech platform has alloted the Employee Stock Ownership Plan (ESOP) worth Rs 25 crore to Mehrotra which can be vested in 4 years equally every year starting from April FY26.
The CEO position at AESL was vacant for more than seven months after Abhishek Maheshwari quit the company in September 2023. However, in April this year, Byju's founder Byju Raveendran appointed Mehrorta as AESL CEO.
Mehrotra has more than three decades of experience across FMCG, telecom, and educational sectors. He completed his bachelor's in electrical engineering from IIT Roorkee before pursuing an executive program at The Wharton School in Philadelphia.
Byju's had acquired AESL for $940 million in April 2021. But three years later both the firms withdrew their merger petition and are running independently under the Think and Learn brand.
