Infosys reveals salary of CEO Salil Parekh, COO UB Pravin Rao and presidents

Infosys for technology outsourcingInfosys annual report has revealed the remuneration of former chief executive officer Vishal Sikka, current CEO Salil Parekh and COO UB Pravin Rao, for 2017-18, according to a report by PTI.

Who is taking big money

Chairman Nandan Nilekani: ZERO
CEO Salil Parekh: Rs 3.98 crore
COO UB Pravin Rao: Rs 8.22 crore
CFO MD Ranganath: Rs 7.98 crore
President Mohit Joshi: Rs 10.31 crore
President and deputy COO Ravi Kumar Rs 9.54 crore
President Rajesh K Murthy Rs 9.58 crore
Ex CEO Vishal Sikka: Rs 12.92 crore
EX general counsel David Kennedy: Rs 7.75 crore

Vishal Sikka had received Rs 16.01 crore in 2016-17, according to the company’s annual report for last fiscal, ended March 31.

Vishal Sikka had resigned as CEO and managing director effective August 18, 2017 and as executive vice chairman effective August 24.

Vishal Sikka’s remuneration for 2017-18 included $0.25 million or approximately Rs 1.60 crore and $0.21 million or about Rs 1.34 crore as part of 90 days base pay in lieu of notice and variable pay, respectively for fiscal 2018 on account of resignation.

Vishal Sikka’s remuneration for fiscal 2018 includes Rs 6.78 crore on account of exercise of 70,772 RSUs (restricted stock options).

Salil Parekh, who joined Infosys in January this year as the CEO and managing director, has received a remuneration of Rs 3.98 crore.

Infosys chief operating officer UB Pravin Rao received remuneration of Rs 8.22 crore last fiscal, up 5 percent from Rs 7.80 crore in the previous year.

Infosys CFO MD Ranganath received remuneration of Rs 7.98 crore, up 68 percent, from Rs 4.75 crore in 2016-17.

Ravi Venkatesan, who quit Infosys Board earlier this month, received remuneration of Rs 1.43 crore, up 38 percent.

Kiran Mazumdar-Shaw drew remuneration of Rs 1 crore as director on Infosys Board.

Nandan Nilekani, who was brought on Infosys Board on August 24, 2017, has chosen not to receive any remuneration for his services rendered to the company.

“We have gone through turbulence, but the resilience of the company has shone through and we are now in a very safe and stable place. The strategy refresh we undertook in the last six months has clearly outlined the way forward for us,” Nandan Nilekani wrote in the annual report of Infosys.

Former general counsel and chief compliance officer David Kennedy, who also quit last year, received salary of Rs 7.75 crore, including a severance pay of Rs 6 crore.

Infosys president Mohit Joshi received remuneration of Rs 10.31 crore, up 52 percent.

Infosys president and deputy COO Ravi Kumar S received remuneration of Rs 9.54 crore.

Infosys president Rajesh K Murthy received remuneration of Rs 9.58 crore.

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