Bengaluru: Infosys chief executive Salil Parekh 's total compensation jumped 43% to Rs 71 crore in fiscal year 2021-22, according to India's second-largest software exporter's annual report that was released on Thursday.
Parekh’s income increased as a result of stock incentives awarded in previous years, as well as a rise in his performance-based variable pay. He took home Rs 49.7 crore in the previous year. Parekh's compensation included Rs 52.3 crore in stock options as he exercised 2,29,792 stock units under the 2015 stock option plan and 1,48,434 units under the 2019 plan during the last fiscal. The pay also included Rs. 12.62 crore in variable pay and Rs 38 lakh in retiral benefits.
This comes days after the IIT Bombay and Cornell University alumnus was handed an additional five-year term at the helm of the Bengaluru-based company, extending his run as Infosys' longest non-founder chief executive.
This compares with his TCS counterpart Rajesh Gopinathan whose compensation jumped around 26.6% year on year to Rs 25.77 crore in FY22, according to the Tata Group's annual report published last week.
Chief operating officer UB Pravin Rao took home Rs 37.3 crore, compared to Rs 17.3 crore in FY21. He had retired from the company in December 2021. His perquisites on account of stock options jumped to Rs 26.2 crore during the year.
Executive chairman and non-independent director Nandan Nilekani did not draw any remuneration for the year.
The digital acceleration is creating tremendous new opportunities for differentiation and gaining market leadership for Infosys amid a "future full of (macro) uncertainties" such as rising interest rates, the Ukraine war and the lingering impact of Covid-19 across different parts of the world, Nilekani said in his message to the shareholders.
"We know that we have never had as much potential as we do right now, to leverage our expertise to benefit our clients and the broader society. This opportunity that lies before us – to make an indelible mark with our digital prowess, our empathy for clients, our investment in employees and a renewed sense of purpose – is greater than it has ever been," he added.
Parekh, in his letter to the shareholders, said he remains more optimistic than ever about the demand environment as large enterprises and governments everywhere are adopting digital and driving transformation to make them more connected with their customers, employees, and partners. "We are especially well-positioned to be the provider of choice with the set of capabilities that are most relevant to our clients," he added.
- Professional CEOs see average pay rise by 7% to Rs 13 crore in FY20
- Like a Boss: Infosys co-founder SD Shibulal on how leadership hinges on challenging the status quo, uncertainty principle and steering the company during a crisis
- The 5 wise men who will decide corporate loan recast
- A morning walk down Dalal Street | Nifty may rally towards 11,150-11,200 if it breaks resistance of 11,042
- Azim Premji: A fine balance sheet
- Sovereign gold bond now open for subscription; is it a good tool for investment?
- What investors should do as market hits record high; don’t ignore these 5 signs
- Facebook-Jio deal a win-win for both, sets benchmark valuation for future listings, say brokerages
- A morning walk down Dalal Street | Nifty can breakout above 11,081 if it sustains above 10,945
- Q2 GDP at -7.5% beats estimates, full-year surprise possible on govt spending, vaccine, RBI
- A morning walk down Dalal Street | Sentiment likely to remain weak if Nifty remains below 10,880 levels
- 44,000 on Sensex: Where is the index headed - 50,000 or 100,000?
- Digging Deeper | The PMC Bank saga
- A morning walk down Dalal Street | Market likely to consolidate before fresh breakout
- Govt releases backend code of Aarogya Setu to enhance transparency
salil parekh: Infosys CEO Salil Parekh’s remuneration rises 43% to Rs 71 crore in FY22 have 632 words, post on www.gadgetsnow.com at May 27, 2022. This is cached page on TechNews. If you want remove this page, please contact us.