News: Infosys CEO receives Rs 24.67 cr salary in the last financial year

#Corporate

Infosys CEO receives Rs 24.67 cr salary in the last financial year

He also received Rs 7.64 crore in perquisites on account of the exercise of 1,03,604 restricted stock units (RSUs) during fiscal 2019
Infosys CEO receives Rs 24.67 cr salary in the last financial year

Infosys CEO, Salil Parekh received an annual pay of Rs 24.67 crore in the last financial year. The company shared it in a BSE filing. 

He joined the company in January 2018, according to his remuneration; Parekh received Rs 6.07 crore in fixed salary and Rs 10.96 crore in bonus, incentives and variable pay in 2018-19. 

He also received Rs 7.64 crore in perquisites on account of the exercise of 1,03,604 restricted stock units (RSUs) during fiscal 2019, according to a media report

UB Pravin Rao, COO, Infosys got Rs 9.05 crore in FY2018-19 against Rs 8.22 crore in the previous financial year.  His remuneration in FY2018-19 included Rs 4.41 crore in fixed salary, Rs 3.83 crore in bonus/incentives/variable pay and Rs 0.81 crore in stock option. 

Last week we reported, Infosys CEO Salil Parekh will get shares worth Rs 10 crore under a new employee stock option plan that the IT major launched for its employees as part of its revised performance criteria for the top executive. In addition, the software services provider has also changed Parekh’s employee agreement to enable him to vest the restricted stock units in 12 months instead of the earlier period of three years.

The company also expanded the Stock Ownership Program 2019, which links long term employee incentives with shareholder value creation.

Parekh stated, "By making employees owners, they get an opportunity to be beneficiaries in the long term success of the company and realize the results of their work and dedication.”

Topics: #Corporate, C-Suite

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