New Delhi: Infosys CEO Salil Parekh's annual remuneration increased by 17 per cent to Rs 66.24 crore in FY2024, making the Bengaluru-headquartered IT firm's top boss among the highest-paid tech CEOs in the industry.
Parekh had received an annual remuneration of Rs 56.4 crore in FY23.
According to Infosys' latest annual report, Parekh's salary of Rs 66.24 crore includes Rs 39.03 crore for 2,58,636 restricted stock units (RSUs) under the 2015 plan and 32,447 RSUs under the 2019 plan during fiscal 2024.
Apart from perks, Parekh's remuneration includes fixed salary (base salary, retirement benefits), bonus incentives and variable pay - totaling Rs 66.25 crore.
The base salary was Rs 7 crore, retirement benefits were Rs 0.47 crore, while the variable component was Rs 19.75 crore.The annual report mentions that Infosys Chairman Nandan M. Nilekani has voluntarily decided not to take any remuneration for his services rendered to the company. ,
It is pertinent to mention that K Krithivasan, the newly appointed Chief Executive Officer and Managing Director of TCS, India's largest IT services company, took home a salary of over Rs 25 crore in FY24. Krithivasan takes charge as the head of the country's largest IT services exporter in June 2023 following the sudden exit of Rajesh Gopinathan. His appointment is for a period of five years.
The pay packages and perks of tech CEOs have always been closely monitored. Former Wipro chief executive Thierry Delaporte – who resigned earlier this year – made headlines as the highest-paid CEO in India's tech industry.Delaporte resigned in April this year and Wipro appointed Srinivas Palia as the new chief executive officer.
In fact, recently Wipro's public shareholders had protested against former CEO Delaporte's severance pay of US$4.33 million. During the voting exercise on the motion relating to the payment of USD 4.33 million in cash compensation and applicable social security contributions for Delporte, 89.7 percent voted in favor, while 10.31 percent voted in dissent.
Wipro founder-chairman Azim Premji and promoter group entities hold majority shares (about 73 per cent) in the firm, which helped get the proposal passed.
Parekh had received an annual remuneration of Rs 56.4 crore in FY23.
According to Infosys' latest annual report, Parekh's salary of Rs 66.24 crore includes Rs 39.03 crore for 2,58,636 restricted stock units (RSUs) under the 2015 plan and 32,447 RSUs under the 2019 plan during fiscal 2024.
Apart from perks, Parekh's remuneration includes fixed salary (base salary, retirement benefits), bonus incentives and variable pay - totaling Rs 66.25 crore.
The base salary was Rs 7 crore, retirement benefits were Rs 0.47 crore, while the variable component was Rs 19.75 crore.The annual report mentions that Infosys Chairman Nandan M. Nilekani has voluntarily decided not to take any remuneration for his services rendered to the company. ,
It is pertinent to mention that K Krithivasan, the newly appointed Chief Executive Officer and Managing Director of TCS, India's largest IT services company, took home a salary of over Rs 25 crore in FY24. Krithivasan takes charge as the head of the country's largest IT services exporter in June 2023 following the sudden exit of Rajesh Gopinathan. His appointment is for a period of five years.
The pay packages and perks of tech CEOs have always been closely monitored. Former Wipro chief executive Thierry Delaporte – who resigned earlier this year – made headlines as the highest-paid CEO in India's tech industry.Delaporte resigned in April this year and Wipro appointed Srinivas Palia as the new chief executive officer.
In fact, recently Wipro's public shareholders had protested against former CEO Delaporte's severance pay of US$4.33 million. During the voting exercise on the motion relating to the payment of USD 4.33 million in cash compensation and applicable social security contributions for Delporte, 89.7 percent voted in favor, while 10.31 percent voted in dissent.
Wipro founder-chairman Azim Premji and promoter group entities hold majority shares (about 73 per cent) in the firm, which helped get the proposal passed.