Latest news with #EmployeeStockOwnership
Economic Times
5 days ago
- Automotive
- Economic Times
Mahindra to give Rs 400-500 cr ESOPs to 23,000 employees
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel In an industry-first initiative, Mahindra & Mahindra is launching a one-time Employee Stock Ownership Plan (ESOP) for about 23,000 employees, including factory floor workers, as a reward for their contribution to the company's growth journey, Group CEO & MD Anish Shah initiative covers three of Mahindra's key subsidiaries -- Mahindra & Mahindra (auto and farm sectors), Mahindra Electric Automobile, and Mahindra Last Mile Mobility, Shah said in an interview with PTI marks a rare -- and possibly first -- instance of a large Indian conglomerate extending ESOPs to shop floor workers. The shares will be granted in the form of restricted stock units (RSUs)."So this is something that I am very happy about and very proud about our company's culture because these ESOPs are for every single person in the company. This is effectively a token of gratitude, because their efforts have helped us do extremely well," he noted that the diversified conglomerate's market cap has grown 12 times since April 2020, a little more than five years and the group felt it was important to acknowledge total disbursement for 23,000 employees of M&M, which is a parent company, MEAL, which is an electric vehicle company, and the last mile mobility (vertical), would be in the range of Rs 400-500 crore, depending on factors, he on the permanent payroll with a minimum of 12 months' service within the group will be eligible to receive stated that the plan aims to reward long-term contributions and align employee efforts with the company's wealth creation."It (Rs 400 crore to Rs 500 crore) is a very significant amount, but as I look at it, overall, the value creation they (workers) have led is a lot more," Shah & Mahindra has posted a 24 per cent year-on-year increase in consolidated net profit to Rs 4,083 crore for the June quarter, driven by broad-based growth across business company reported a net profit of Rs 3,283 crore for the April-June period of the last income from operations rose to Rs 45,529 crore in the June quarter against Rs 37,218 crore in the year-ago period.
Time of India
5 days ago
- Automotive
- Time of India
Mahindra to give Rs 400-500 cr ESOPs to 23,000 employees
New Delhi: In an industry-first initiative, Mahindra & Mahindra is launching a one-time Employee Stock Ownership Plan (ESOP) for about 23,000 employees, including factory floor workers, as a reward for their contribution to the company's growth journey, Group CEO & MD Anish Shah said. The initiative covers three of Mahindra's key subsidiaries -- Mahindra & Mahindra (auto and farm sectors), Mahindra Electric Automobile, and Mahindra Last Mile Mobility, Shah said in an interview with PTI Videos. Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program This marks a rare -- and possibly first -- instance of a large Indian conglomerate extending ESOPs to shop floor workers. The shares will be granted in the form of restricted stock units (RSUs). "So this is something that I am very happy about and very proud about our company's culture because these ESOPs are for every single person in the company. This is effectively a token of gratitude, because their efforts have helped us do extremely well," he said. He noted that the diversified conglomerate's market cap has grown 12 times since April 2020, a little more than five years and the group felt it was important to acknowledge this. Live Events The total disbursement for 23,000 employees of M&M, which is a parent company, MEAL, which is an electric vehicle company, and the last mile mobility (vertical), would be in the range of Rs 400-500 crore, depending on factors, he said. Employees on the permanent payroll with a minimum of 12 months' service within the group will be eligible to receive ESOPs. Shah stated that the plan aims to reward long-term contributions and align employee efforts with the company's wealth creation. "It (Rs 400 crore to Rs 500 crore) is a very significant amount, but as I look at it, overall, the value creation they (workers) have led is a lot more," Shah said. Mahindra & Mahindra has posted a 24 per cent year-on-year increase in consolidated net profit to Rs 4,083 crore for the June quarter, driven by broad-based growth across business verticals. The company reported a net profit of Rs 3,283 crore for the April-June period of the last fiscal. Total income from operations rose to Rs 45,529 crore in the June quarter against Rs 37,218 crore in the year-ago period.
Business Upturn
03-06-2025
- Business
- Business Upturn
AGRA'S AGSSL SETS BENCHMARK WITH REVOLUTIONARY ESOP POLICY, EMPOWERING EMPLOYEES AND RETAINING TALENT
AGRA, India , June 3, 2025 /PRNewswire/ — In a city world-renowned for its cultural heritage and the majestic Taj Mahal , A.G. Shares & Securities Ltd. (AGSSL), a stock brokerage house, is scripting a modern success story — this time, in the world of employee empowerment. AGSSL has made headlines with the introduction of a progressive Employee Stock Ownership Plan (ESOP), a rare move in Agra's corporate landscape, positioning the company as a trailblazer in employee engagement and talent retention. A Bold Step Towards Employee Ownership in Agra While ESOPs are commonly seen in metros and tech hubs, AGSSL's decision to implement such a forward-thinking policy in Agra has turned heads across the region. By giving employees the opportunity to own shares in the company, AGSSL is not only driving performance but also instilling a deep sense of ownership, loyalty, and pride in its workforce. 'We wanted to connect our team's effort directly with the company's success,' says Mr. Krishna Tiwari , General Manager of AGSSL. 'Talent is the backbone of the finance industry. Our ESOP policy helps keep our people motivated and rewarded — right here in Agra.' Real Wealth, Real Stories Since the rollout of the ESOP program, employees at AGSSL have experienced tangible financial growth. Several long-time team members have seen the value of their shares outpace their annual salaries, turning a workplace incentive into a genuine path to wealth creation. 'It's not just extra cash,' Mr. Tiwari explains. 'It's real wealth, long-term security, and most importantly, it gives our employees the feeling of being true partners in the company's journey.' Redefining Agra's Talent Landscape In a region where ESOPs are virtually unheard of, AGSSL is shifting the narrative. The policy is not only helping retain Agra's top talent but is also attracting skilled professionals back from metro cities who are now reconsidering hometown opportunities. 'AGSSL's ESOP is more than just a benefit — it's a magnet for talent and a tool to build a workplace where every employee feels valued and invested,' Tiwari adds. Inclusive Ownership Across All Levels One of the most innovative features of AGSSL's ESOP is its inclusivity. While senior management receives shares directly, they are also encouraged to allocate a portion to their teams — ensuring that everyone, from traders to support staff, has a stake in the company's growth. 'It's not just for top leadership,' says Tiwari. 'We believe every employee matters. By sharing ownership across the board, we're fostering a unified, motivated, and high-performing team.' Educating and Engaging Employees To ensure everyone understands and benefits from the ESOP, AGSSL regularly conducts internal sessions to demystify the program. Employees are kept informed of the company's growth and how it translates into share value — making the link between their efforts and rewards clear and compelling. A Model for Agra's Business Future As AGSSL continues to grow, it plans to expand its ESOP initiative even further — reinforcing its commitment to shared success and setting a high bar for companies in Agra and beyond. 'All businesses irrespective of their size should absolutely consider ESOPs,' says Tiwari. 'It's a smart, sustainable way to build loyalty, attract talent, and create a culture of ownership. We're proud to lead by example.' AGSSL's ESOP Highlights: A standout and rare benefit in Agra's job market Shares for employees at all levels — not just leadership — not just leadership Substantial financial gains for participants for participants A powerful tool for talent retention and return migration A model for progressive local business practices About AGSSL A.G. Shares & Securities Ltd. is a leading financial services company based in Agra, offering a range of investment solutions. With a reputation for innovation and integrity, AGSSL is redefining what it means to work — and thrive — in Agra's growing financial landscape. Website: Logo: View original content to download multimedia: Disclaimer: The above press release comes to you under an arrangement with PR Newswire. Business Upturn takes no editorial responsibility for the same.
Yahoo
31-05-2025
- Business
- Yahoo
BDO USA announces CEO's retirement, names successor
Accounting and advisory company BDO USA has revealed that its CEO, Wayne Berson, intends to retire in June 2026. The firm has initiated its CEO succession process, identifying Matthew Becker, national managing principal of tax, as the candidate to succeed Berson. Over the coming weeks, Berson and Becker will conduct meetings with the firm's principals before a principal-wide ratification vote expected in July. Once a successor is agreed upon by a majority vote, the board of directors will announce the next CEO, with the new term commencing on 1 July 2026. Berson has held the position of CEO since 2012. In a statement, BDO USA said: 'Under his [Berson's] leadership, the firm has grown nearly 400%, to annual revenues of approximately $3bn.' Berson has been credited with guiding BDO USA's evolution from a partnership structure to a corporate entity and subsequently an ESOP (Employee Stock Ownership Plan) company, allowing all qualifying employees to benefit from the firm's success and growth. Berson will continue serving on the BDO USA board of directors and as chair of the global board of directors for BDO International until his retirement. Becker, the potential CEO candidate, is responsible for the strategy and operations of the company's tax practice and has been a longstanding member of the executive leadership team. BDO USA said: 'Becker's impressive accomplishments and unwavering character position him to sustain BDO's growth trajectory while managing the complexities of a rapidly changing industry.' Recently, BDO USA launched an artificial intelligence (AI) strategy to empower its people and clients strategically. It includes implementing an AI governance framework and an AI learning curriculum. BDO USA is backing its AI strategy with a global investment exceeding $1bn over five years. To spearhead this effort, the firm named Mike Gerhard as its chief data and AI officer in 2024. Gerhard is tasked with leading data and AI initiatives, fostering business insights and innovation, and creating proprietary AI tools to improve service delivery at BDO USA. "BDO USA announces CEO's retirement, names successor " was originally created and published by International Accounting Bulletin, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
