Managements need to ‘curtail expenditures’ on themselves: R C Bhargava
Addressing shareholders in the AGM, he termed as “a good development for the whole of industry” recent shareholder actions that did not approve expenditures by management on themselves.
R C Bhargava added the country’s largest carmaker is looking at the electric vehicle space but will enter it only when it makes it feasible for customers in terms of affordability. (File)
Company managements need to “curtail the kind of expenditures on themselves personally” with Covid highlighting the need to build internal resources with a frugal style of functioning, Maruti Suzuki India chairman R C Bhargava said on Tuesday.
Addressing shareholders in the AGM, he termed as “a good development for the whole of industry” recent shareholder actions that did not approve expenditures by management on themselves. “Management themselves need, I think, to curtail the kind of expenditures on themselves personally,” he said.
He added the country’s largest carmaker is looking at the electric vehicle space but will enter it only when it makes it feasible for customers in terms of affordability and also for the company to operate without making a loss.
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