CEO Salil Parekh’s compensation has reportedly been increased by a whopping 88 percent, and he will now be paid about 79.75 crores after his reappointment on July 1st 2022.
According to the company’s annual report, his remuneration has been increased from 42.5 crore (in FY 2021-22) to 79.75 crore, an almost 88 percent increase.
He was reportedly awarded a total of 71.02 crore in the financial year 2021-22, with 52.33 crore for exercising 2,29,792 restricted stock units (RSUs) under the 2015 plan and 1,48,434 RSUs under the 2019 plan. According to Infosys’ annual report, which was published by TheHinduBusinessLine, it also contained a base pay of 5.6 crore and a retiral benefit of 38 lakh.
As a result, he is one of India’s highest-paid executives. But how much do some of India’s other top CEOs make? Let’s have a look at it.
1) Mukesh Ambani-Reliance Industries
Mukesh Ambani, a billionaire, is the Chairman and Managing Director of Reliance Industries. According to an ET article, Ambani’s yearly salary, perquisites, allowances, and commission have all been set at Rs 15 crore per year since FY 2008-09. He apparently voluntarily gave up salary in FY 2020-21 due to the pandemic affecting business and the economy.
2) SN Subrahmanyan-Larsen & Toubro
According to ET, S N Subrahmanyan, the CEO and managing director of Larsen & Toubro (L&T), earned Rs 27.17 crore in 2019-20 after taking a voluntary wage decrease of 43.91 percent because to the COVID-19 pandemic.
3) CP Gurnani -Tech Mahindra
Tech Mahindra’s CEO and MD is CP Gurnani. According to the TOI report, he received Rs 22 crore in FY 2020-21, which is approximately 33% less than the previous FY’s compensation of Rs 33.2 crore.
4) Rajesh Gopinathan-Tata Consultancy Services
Rajesh Gopinathan was named CEO of Tata Consultancy Services in February 2017 after serving as CFO since 2013. This came after N Chandrasekaran, the former CEO of Tata Sons, was promoted to chairman. According to a TOI article published last week, TCS CEO’s overall salary increased by about 28 percent to Rs 25.8 crore in the last financial year 2021-22.
During the fiscal year 2021-22, the TCS CEO is claimed to have gotten a salary of Rs 1.5 crore, benefits and allowances of Rs 2.3 crore, and a commission of Rs 22 crore.
5) Sunil Mittal-Bharti Enterprises
Bharti Enterprises was founded by Sunil Mittal, who also serves as its chairman. According to an ET report, he received a salary of Rs 30.13 crore in FY 2020, a decrease of around 3% from the previous year’s income of Rs 31 crore.
6) Siddhartha Lal-Eicher Motors Ltd
According to ET, Siddhartha Lal, the MD of Eicher Motors, received a compensation of Rs 21.1 crore in FY 2020-21.
7) Sanjiv Puri-ITC Ltd
Since May 2019, Sanjiv Puri has served as Chairman and Managing Director of ITC Ltd. He had previously served as the company’s Managing Director, CEO, and COO. According to the company’s annual report, his yearly salary increased by 47.23 percent to 10.10 crore in FY2020-21.
8) N Chandrasekaran-Tata Sons
According to a TOI report, Tata Sons chairman N Chandrasekaran received a remuneration package of 58 crore for FY2020. From his FY2019 compensation of Rs 66 crore, this represented a reduction of roughly 11%. When he was reappointed as executive chairman of Tata Sons for a second term in February 2022, the TOI reported that his yearly salary package exceeded Rs 60 crore.