N Chandrasekaran, chief of the Tata Sons took a package of Rs 30.15 crore in the financial year 2017 during his tenure as the Chief Executive Officer (CEO) and the Managing Director (MD) of TCS, PTI reported. TCS is India’s largest IT services firm. Commonly called Chandra, N Chandrasekaran had been promoted to the position of the Chairman of Tata Sons in February 2017 in the wake of the sacking of Cyrus Mistry from the post.
Chandrasekaran is reported to have earned Rs 2.44 crore as the Chief Executive Officer of TCS in basic salary, Rs 25 crore as commission and Rs 2.7 crore in allowances, PTI reported quoting the company’s 2016-17 annual report. However, the said number could not be compared to that of the previous year as the executives of the company had moved to their new positions during the final quarter of the said financial year. In the Financial Year 2015-16, however, Chandrasekaran was reported to have pocketed Rs 25.6 crore and received an extra amount of Rs 10 crores as a one-time special bonus.
Rajesh Gopinathan, who had been serving as the CFO, succeeded Chandrasekaran at TCS. He is also reported to have received Rs 6.22 crore during this fiscal year. According to the annual report, “The remuneration includes compensation for the full year as chief financial officer from April 1, 2016, to February 21, 2017, and as CEO and MD from February 21, 2017, to March 31, 2017”. The salaries of the CEOs in the technology sector had recently come under the spotlight after N R Narayana Murthy, Infosys founder had raised questions about the hikes for senior executives.