Infosys CEO Salil Parekh will be paid a fixed salary of Rs 6.5 cr
Team Udayavani, Jan 4, 2018, 4:04 PM IST
Bengaluru: Infosys CEO Salil Parekh will be paid a fixed salary of Rs 6.5 crores and would be eligible for variable pay of Rs 9.75 crores at the end of the 2018-19 fiscal year.
“Infosys CEO Salil Parekh will be paid a fixed salary of Rs 6.5 crores. He would be eligible for variable pay of Rs 9.75 crores at the end of the fiscal year,” independent board member at Infosys Kiran Mazumdar Shaw told PTI here.
Former CEO Vishal Sikka earned USD 6.75 million in FY17. Wipro CEO Abidali Neemuchwala is getting a bit over USD 2 million. Shaw, who is part of the Nomination and Remuneration Committee (NRC), said Parekh will also receive Rs 3.25 crores in restricted stock units.
“He will also get Rs 13 crores in annual performance equity grants,” she said.
Parekh will also get a one-time equity grant of Rs 9.75 crores, Shaw said. The stock compensation will vest at different points over Parekh’s term. He has been appointed for a 5-year term.
Parekh’s employment contract also comes with a non- compete clause, Shaw said. Parekh’s contract also specifies the amount he will be paid should he fail to meet minimum performance targets, company said in a postal ballot, Shaw said.
The company said in a postal ballot that Parekh will not work with named competitors for six months from the day he leaves the company. He will also not work with or for a client to whom he has rendered service for the last 12 months, Infosys said.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
24/7 CT Scan Facility Inaugurated at Dr. TMA Pai Rotary Hospital, Karkala
Bengaluru Police Eye Care Project inaugurated
Finance Minister reviews progress of planetarium in Mysuru
Mangaluru: Unauthorized bus stops at signals fuel traffic woes and safety concerns
Baikampady: Here, even elderly have to crawl under trains to cross tracks!
MUST WATCH
Latest Additions
UP women’s body proposes men shouldn’t tailor women’s clothes or cut their hair
NSE, BSE to be closed on Nov 20 for Maharashtra assembly polls
After Yogi’s ‘batenge, katenge’ slogan, PM pitches for unity with ‘Ek hai, toh safe hai’ message
24/7 CT Scan Facility Inaugurated at Dr. TMA Pai Rotary Hospital, Karkala
Bengaluru Police Eye Care Project inaugurated
Thanks for visiting Udayavani
You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.