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Wipro CEO Took Home $8.8 Million Last Year, Higher Than Top Bosses at TCS, Infosys

Wipro chief executive Thierry Delaporte received a salary of $8.8 million during the previous financial year, the highest remuneration paid by any Indian IT services company to a foreign top executive.

Wipro CEO got $1.3 million in salary and allowances, $1.5 million in variable pay, other income of $5.2 million and about $760,00 in long term compensation, the company said in a regulatory filing. The compensation is for the period from July 6 to March 31. “It includes components such as a one-time cash award, annual stock grant and one-time grant of RSUs, among other things, as per the terms approved by the shareholders at the Annual General Meeting of the Shareholders in July 2020,” the IT giant said. Former Wipro CEO Abidali Neemuchwala earned $4.4 million in 2019-20.

Wipro Chairman Rishad Premji’s salary for the same period was $1.6 million, which included, $79,000 as salary allowance and others. “Rishad Premji is entitled to a commission at the rate of 0.35% on incremental consolidated net profits of Wipro Limited for fiscal year 2021 over the previous year, computed in accordance with the provisions of the Companies Act, 2013,” it mentioned. The compensation also included cash bonus (part of his allowances) on an accrual basis, which is payable over a period of

time.

Wipro had more than 200,000 employees with 41,000 located outside India as of March 31. “The Covid-19 pandemic continues to evolve as countries are facing new waves of outbreaks. The ultimate extent to which the pandemic impacts our business, liquidity, results of operations and financial condition will depend on future developments, which are highly uncertain and cannot be predicted at this time,” the company said.

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Source: News18