Mukesh Ambani gets Bank of America shares as director fees

Bank of America has given shares worth nearly Rs 11 lakh to Mukesh Ambani as part of annual retainer fee to the billionaire industrialist, who joined the US banking giant’s board last month. Ambani may get a total of over Rs 1 crore of annual compensation in cash and stocks, going by the bank’s director compensation policy.

However, the bank has not disclosed its specific director fees for Ambani, chief of energy giant Reliance Industries.

Emailed queries sent to Bank of America and Reliance Industries remained unanswered on what would be Ambani’s exact remuneration for his role as a director.

Ambani leads one of India’s biggest corporate groups with presence spanning across energy, retail and telecom businesses and plans underway for financial services entry.