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Business News/ Companies / News/  Infosys CEO Salil Parekh's salary jumps 88% to 79 crore per annum

Infosys CEO Salil Parekh's salary jumps 88% to ₹79 crore per annum

The revised compensation comes as Salil Parekh has been reappointed as CEO and MD of the company, commencing on 1 July, 2022 and ending on 31 March, 2027

Salil Parekh, chief executive officer of Infosys Ltd (Bloomberg)Premium
Salil Parekh, chief executive officer of Infosys Ltd (Bloomberg)

The nomination and remuneration committee at Infosys Ltd has proposed a sharp 88% increase in chief executive officer Salil Parekh’s annual compensation to 79.75 crore from 42.50 crore, according to its annual report.

While 11 crore is a fixed component, 68.75 crore will be linked to performance, it said.

In FY22, Parekh received a total remuneration of 71 crore including stock options, while Rajesh Gopinathan, the chief executive of Tata Consultancy Services Ltd received a compensation of 25.8 crore.

Parekh was given a five-year extension as CEO and managing director, starting 1 July.

In comparison, average salary raises for Indian IT services companies range between 4% and 8%.

According to experts, top leadership talent will continue to command disproportionate salary.

“In a free-market, scarce commodities command a premium. Leadership for global companies is a scarce commodity in India. The demand-supply mismatch along with the enormous performance pressure that shareholders of companies place on the CEOs necessitates the payment of globally benchmarked salary," said Abhisek Mukherjee, co-founder and director, Auctus Advisors.

The IT services major said under Parekh, Infosys’ total shareholder returns surged 314%, the highest among peers.

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Published: 26 May 2022, 11:20 AM IST
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