April 14, 2010
Suzlon celebrates 15 years with Company-wide stock options
- Scheme reaches employees worldwide
- Approximately 90%* of Company employees eligible for ESOPs
Pune: Suzlon Energy Limited (BSE: 532667, NSE: SUZLON) (SEL) announced it is granting
stock options to a majority of its staff to mark its 15th anniversary.
Mr. Tulsi R. Tanti, founder, Chairman and Managing Director, said: "April 10, 2010 marked
15 years in the history of our Company, and we are very pleased to take that opportunity to
roll out this exciting initiative.
What makes this ESOP initiative unique and important is its scale and reach. At Suzlon we
know our greatest strength is our employees. We have created a highly skilled, diverse and
multicultural workforce which has become a part of the Suzlon global family. I have always
believed that those instrumental in creating wealth for the business should share in that
wealth. This initiative is making that dream a reality.
"It is hard to believe that 15 years ago we started the Company with just three people.
Today, Suzlon Energy Limited and its subsidiaries have almost 11,000* employees and a
majority of them will be granted 1,500 share options each totaling approximately 14
million shares, and about one percent of the capital.. We hope and trust that this initiative
of ours will not only make our employees true stakeholders and drive greater engagement -
but also that this is something which the broader corporate community will now consider
adopting too.
"I would like to thank everyone who has worked so hard to build Suzlon up to where we are
today - and look forward to celebrating our next milestones with the entire Suzlon family."
This special ESOP scheme is far reaching with a focus on inclusivity. The scheme is open
to all permanent employees of SEL and its subsidiaries (excluding REpower and Hansen)
who have completed six months with the Company, and have not been granted ESOP under
any other scheme. In effect, the scheme reaches over 9,400 employees in 21 countries
across five continents.
