Indian CEOs are getting handsome pay, with IT major HCL Technologies in its annual report informing that its CEO C Vijayakumar got $16.52 million or about Rs 130 crore in compensation, making him the highest-paid executive in India. Here’re are the top-five highest-paid Indian chief executive officers (CEOs).
HCL’s C Vijayakumar received Rs 123.13 crore ($16.52 million) in 2021. He got $2 million as base salary and another $2 million in variable pay. The CEO further got $0.02 million as perquisites and other benefits for the year ended March 31. The LTI (long-term incentive) of $12.50 million took his total salary to $16.52 million.
HCL said, “There has been no change in his remuneration during the FY 2021-22 except for receipt of USD 12.5 million as LTI (Long-Term incentive) that is paid at fixed intervals (at the end of two years) based on the achievement of milestones/parameters fixed by the Board. Accordingly, the payment of the above LTI is for two years that ended on March 31, 2021 viz. $6.25 million for FY 2019-20 and $6.25 million for the FY 2020-21.”
Wipro Chief Executive Officer Thierry Delaporte got an annual remuneration of $10.5 million (about Rs 80 crore) in 2021-22. He was appointed as the company’s CEO in July 2020 and during the first nine months of tenure, his remuneration was Rs 64 crore for FY21.
Infosys CEO Salil Parekh received a total remuneration of Rs 71.02 crore during the financial year 2021-22. The company’s shareholders have approved a proposal to extend Parekh’s term for five years till 2027, with an increase in his compensation package to Rs 79.75 crore.
Parekh’s compensation during 2021-22 included Rs 5.69 crore base salary, Rs 0.38 crore retiral benefits, Rs 12.62 crore bonus and incentives and Rs 52.33 crore in perquisites on account of stock options exercised, according to the annual report.
Tech Mahindra CEO and Managing Director C P Gurnani took home Rs 63.4 crore in the financial year 2021-22, a 189 per cent year-on-year jump. The salary included salary, stock compensation benefits and post-employment benefits for the one-year period, according to Tech Mahindra’s annual report.
Tata Consultancy Services CEO and MD Rajesh Gopinathan saw an increase of 26.6 per cent in salary, according to the company’s annual report for 2021-22. He took home the total compensation of Rs 25.75 crore during the previous financial year.
The highest-paid Indian CEO in a note to shareholders said, “At HCL Technologies, we have taken pioneering steps in our talent strategy. We are proud of our global team of diligent, diverse and passionate people, all 2,09,000 plus of them across 52 countries. They are delivering an extraordinary experience to our clients under the leadership of a world-class management team rooted in our culture of ‘Ideapreneurship’.”