Home >Companies >News >Infosys CEO Salil Parekh drew 24.67 cr pay package in FY19

NEW DELHI : Salil Parekh, the chief executive officer of Infosys, took home a pay package of 24.67 crore in the last financial year, the company's annual report showed.

Parekh, who joined Infosys in January 2018, received 6.07 crore in fixed salary and 10.96 crore in bonus, incentives and variable pay in 2018-19.

He also received 7.64 crore in perquisites on account of exercise of 1,03,604 restricted stock units (RSUs) during fiscal 2019, the annual report said.

Compared to this, Tata Consultancy Services CEO Rajesh Gopinathan drew a package of over 16 crore. In its annual report, the country's IT services firm said Gopinathan's compensation had grown over 28 per cent in FY2018-19.

Gopinathan's remuneration included 1.15 crore in salary, 1.26 crore in perquisites, 13 crore in commission and over 60 lakh in other allowances - all of which added up to a package of 16.02 crore.

Infosys chief operating officer UB Pravin Rao earned 9.05 crore in FY2018-19 against 8.22 crore in the previous financial year.

His remuneration in FY2018-19 included 4.41 crore in fixed salary, 3.83 crore in bonus/incentives/variable pay and 0.81 crore in stock option.

Last week, Infosys had announced that it would allocate five crore shares to its employees under a new stock incentive plan - Plan 2019. Under this, Parekh would be given 10 crore worth of shares, while Rao will receive stocks worth about 4 crore.

Infosys Chairman Nandan Nilekani - in the annual report - wrote that over the past year, the company has been "working relentlessly to rebuild a 200,000-plus people organisation to operate with the speed and agility of a startup".

"We are reforming root and branch, replacing legacy systems and mindsets, dissolving thick encrusted silos, energising the believers and converting the sceptics," he added.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

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