Tech Mahindra’s Chief Executive Officer, CP Gurani earned a total compensation of Rs.150.7 crore in the financial year 2017.
According to a media report, C P Gurnani’s compensation consists of Rs.147.1 crore which is a perquisite value of the three million stock options issued to him in 2011 and 2014 that he exercised during this year. The remaining amount includes salary and commissions.
In FY16, his compensation stood at Rs.45.3 crore that includes the prerequisite value of stock options. However, this year his compensation increased three times the previous year. He received a 54 per cent hike in salary, excluding stock options from Rs.2.37 crore in FY16 to Rs 3.65 crore in FY17. In FY16, Gurnani’s remuneration had increased 5.6 per cent, excluding stock options. Certainly, this increase in remuneration has made Gurani the top paid executive of Indian Technology Services Company this year.
Last year, Tech Mahindra’s Vice-Chairman Vineet Nayyar took home a total pay package of Rs 181.74 crore in 2015-16. However, this year his compensation dropped to Rs 20 crore, including the perquisite value of stock options.
This news comes at the times when other executives are getting pay cuts due to challenges faced by technology companies. Earlier reported in People Matters, Azim Premji’s compensation dropped to 63% owing to Wipro’s relatively substandard performance. Similarly, Infosys’ CEO Vishal Sikka earned Rs. 43 crore which is 67% lower than his defined salary.