CEO salaries in IT firms: The heads of top IT firms including TCS, Infosys and Tech Mahindra hold a sizeable amount in stocks of these companies, and also receive a large chunk of their salaries in stock options.
CEO salaries in IT firms: The heads of top IT firms including TCS, Infosys and Tech Mahindra hold a sizeable amount in stocks of these companies, and also receive a large chunk of their salaries in stock options. Notably, C P Gurnani, CEO of Tech Mahindra, received stock options worth Rs 142.30 crore besides salary and perquisites amounting to Rs 3.89 crore in 2017-18.
Further, Gurnani was offered 30 lakh shares during the previous fiscal year, with the current value of those stocks amounting to Rs 195 crore. Tech Mahindra’s head Gurnani tops the list of CEOs holding 80.58 lakh shares which are worth Rs 523 crore at Tuesday’s closing price. Gurnani comes on top among the IT CEOs.
The next on the list is Abidali Z Neemuchwala, CEO of Wipro, who received stock options worth Rs 10.20 crore during the previous fiscal year 2017-18. This remuneration was besides salary and perquisites of Rs 8.03 crore.
Infosys head Salil Parekh, who took over the reins post Vishal Sikka’s infamous ouster, has been CEO of Infosys since January 2, 2018. He received a salary of Rs 3.98 crore during the 2017-18, as well as 1,13,024 restricted stock units (shares received as incentive or reward with a vesting period). Notably, the head of Infosys Salil Parekh was offered all these RSUs in February 2018; at the current market price, they are valued at Rs 14.70 crore.
Rajesh Gopinathan, CEO of TCS, received a salary of Rs 12.49 crore during the year. HCL Technologies, the third largest IT company by market capitalisation, is yet to publish its annual report for the year 2017-18.