Pieter Elbers Steps Down As IndiGo CEO: What Was His Salary?
IndiGo CEO Pieter Elbers stepped down following a board meeting of InterGlobe Aviation on March 10. Elbers, who joined the airline in 2022, reportedly earned about Rs 5 crore annually, with total compensation of around Rs 17 crore, including stock units and bonuses. The veteran aviation executive has over 33 years of global industry experience.
InterGlobe Aviation Limited, the parent company of IndiGo, announced on Tuesday that Elbers had resigned with immediate effect following a meeting of the airline’s Board of Directors on March 10. He had taken charge as the airline’s chief executive in September 2022. After Pieter Elbers stepped down as CEO of IndiGo, attention has turned to his compensation during his tenure at India’s largest airline.
According to media reports, Elbers drew an annual salary of around Rs 5 crore at IndiGo. His total compensation package, including salary, performance stock units (PSUs) and bonuses, was estimated to be around Rs 17 crore. In March 2023, he was granted 67,150 PSUs, which were valued at approximately Rs 12.52 crore.
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Elbers has more than 33 years of experience in the aviation sector. He began his career with Dutch airline KLM in 1992 as an aircraft loading supervisor at Schiphol Airport and later rose through the ranks to become the airline’s President and CEO in 2014.
Born in Schiedam, Netherlands, in 1970, Elbers is regarded as a seasoned aviation executive. Reports estimate his net worth at around $5 million (about Rs 45 crore).
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