Wipro CEO Thierry Delaporte¡¯s annual pay package for financial year 2021-22 was Rs 79.8 crore ($10.51 million), the company¡¯s annual report filed with the US Securities and Exchange Commission reportedly showed.
This massive salary makes Wipro CEO the highest paid executive in India's IT sector, as per ET. This is in comparison to other CEO's declared salaries till now.
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In previous FY 2020-21, Wipro CEO Delaporte¡¯s annual salary was reportedly Rs 64.3 crore ($8.7 million), the compensation was for nine months as he had joined the company in July 2020.
Wipro CEO took home $1.74 million (Rs 13.2 crore) in salary and allowances and $2.55 million (Rs 19.3 crore) in commissions and variable pay, while $4.2 million (Rs 31.8 crore) was in terms of other benefits. Long-term compensation or deferred benefits formed the rest, as per ET.
The compensation package includes components such as a one-time cash award, as per the terms reportedly approved by shareholders at its annual general meeting in July 2020.
Delaporte¡¯s tenure as the CEO and Managing Director of Wipro will reportedly last till July 30, 2025, and he currently owns 118,000 equity shares in the company, as per Business Today.
In comparison to Wipro CEO, Infosys CEO Salil Parekh¡¯s total compensation in FY 2021-22 was Rs 71.02 crore. TCS CEO Rajesh Gopinathan¡¯s pay package was nearly Rs 25.8 crore in FY22.
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The company's annual report mentions, ¡°If his (Thierry Delaporte) employment is terminated by the Company without Cause, the Company is required to pay Delaporte, severance pay of 12 months¡¯ base salary as last applicable when in service, payable over a 12-month period following the date of termination. These payments will cease if Delaporte obtains a new employment within the 12 months period or becomes a consultant to any company,¡± as per Business Today report.?
Wipro chairman Rishad Premji reportedly took home $1.82 million compared to $1.62 million last year, which in rupee terms is said to have jumped to Rs 13.8 crore from Rs 11.8 crore last year. He was not granted stock options in fiscal year 2022, as per ET. Buthe?has 1.7 million equity shares, as per Business Today report.
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