Liquor firm Diageo cuts CEO's pay by over ₹9 crore

Liquor firm Diageo has slashed part of the variable portion of CEO Ivan Menezes' compensation, reducing his pay for the last fiscal to £3.4 million (₹28 crore) from £4.5 million (₹37 crore) earlier. CFO Kathryn Mikells' variable pay was also reduced by half. This comes after UK PM Theresa May described discrepancy between compensation of managers and workers as 'irrational'.