Air India shareholders have approved a Rs. 17.74 crore cash payout for outgoing chief executive officer Campbell Wilson. The amount includes Rs. 15.24 crore in place of shares due under a long-term incentive plan and a separate Rs. 2.5 crore reward for FY25, reported Business Standard. The approval comes as the airline prepares for a leadership change after a year of widening losses.

Shareholders Tata Sons and Singapore Airlines approved the revised terms at Air India’s annual general meeting on August 10. The Rs. 15.24 crore portion replaces shares Wilson was entitled to receive under the airline’s long-term incentive plan for FY23 through FY25. Under the original terms, shares would have made up half of that incentive.

Air India’s board approved the cash replacement and the Rs. 2.5 crore one-time reward on May 7, following a recommendation from its nomination and remuneration committee. The company then sought shareholder approval because the changes differed from Wilson’s previously approved pay terms.

The approval establishes the amount Wilson can receive, but it does not confirm payment. Moneycontrol said it could not independently verify whether Air India had disbursed the money. The August resolution covers incentives through FY25 and does not disclose a similar cash replacement or one-time reward for FY26.

Wilson became Air India’s CEO and managing director in July 2022, after the Tata Group acquired the airline from the government. His initial annual compensation was set at Rs. 5 crore for three years. 5 crore annual bonus and Rs. 5 crore under the long-term incentive plan.

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