N. Chandrasekaran took home Rs30 crore as TCS CEO in FY17
As the CEO of TCS, N Chandrasekaran earned Rs2.44 crore in basic salary, Rs25 crore as commission and Rs2.7 crore in allowances
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New Delhi: Tata Sons chief N. Chandrasekaran took home a pay package of Rs30.15 crore in FY2017 during his tenure as the chief executive officer (CEO)and managing director (MD )of Tata Consultancy Services Ltd (TCS), India’s largest IT services firm.
Chandra, as he is popularly known, was elevated as Tata Sons chairman in February this year. Tata Sons is the holding company of the $103 billion salt-to-software conglomerate. As the CEO of TCS, he earned Rs2.44 crore in basic salary, Rs25 crore as commission and Rs2.7 crore in allowances, according to the company’s 2016-17 annual report.
The numbers cannot be compared to the previous year as the executives moved on to their new positions in the last quarter of the financial year.
In FY2015-16, Chandrasekaran had earned Rs25.6 crore and also received an additional Rs10 crore as part of a one-time special bonus. Chandrasekaran was succeeded by Rajesh Gopinathan, who was earlier serving as the CFO.
Gopinathan took home Rs6.22 crore during the fiscal. “The renumeration includes compensation for full year as chief financial officer from 1 April 2016 to 21 February 2017 and as CEO and MD from 21 February 2017 to 31 March 2017,” the report said.
CEO salaries in the tech sector have come under spotlight after Infosys founder N R Narayana Murthy had questioned pay hikes for senior executives at the Bengaluru-based firm.