Infosys CEO Salil Parekh has been handed out an annual pay package that is much lower than what was paid out to his predecessor Vishal Sikka. Photo: Abhijit Bhatlekar/MintBengaluru: Infosys Ltd’s new chief executive officer (CEO) Salil Parekh has been given a Rs9.75 crore joining bonus and could earn up to Rs17.3 crore in the first year. “A One-time equity Grant of RSUs covering shares have a Value equal to Rupees Nine Seventy Five Lakhs (Rs 9,75,00,000). Parekh’s salary is lower than what Infosys paid Sikka—who earned roughly Rs48 crore (over $7 million) in his first year at Infosys and the promised about Rs70 crore (over $11 million) after the board of Infosys raised his salary in his second year. Chandrasekaran’s compensation included Rs2.44 crore in base pay, Rs25 crore in commission and Rs2.7 crore in allowances, and was paid out from April 2016 to February 2017.

Source: Mint January 04, 2018 04:27 UTC