Wipro's CEO & chairman get hefty raises
Wipro CEO TK Kurien’s salary crossed the million dollar mark for the first time, in a sign that the company continued to back his turnaround plans. Wipro’s chief executive TK Kurien saw his pay, including benefits, increase from $888,228 in fiscal year 2012-13 to $1.1 million by the end of March this year, mainly on account of rise in variable pay component. Chairman Azim Premji’s annual compensation, including salary and benefits, also more than doubled from $733,827 in fiscal 2012-13 to $1.71 million. This was mainly on account of doubling of variable pay component, according to company’s regulatory filing made on Monday to US Securities and Exchange Commission.
Read the Economic Times news report here.