At Rs 66.25 crore, Infosys’ Salil Parekh is second-highest paid IT CEO

Salil Parekh, CEO and MD, Infosys

Salil Parekh, chief government officer and managing director of Infosys, has emerged because the Indian IT sector’s second-highest paid CEO with an annual compensation of Rs 66.25 crore throughout FY24, the corporate’s newest annual report revealed.

The very best paid CEO over the past monetary 12 months was Wipro’s former chief Thierry Delaporte, who earned $20 million (about Rs 166 crore).

Delaporte’s successor Srinivas Pallia will obtain remuneration of about Rs 50 crore in FY25. Tata Consultancy Companies (TCS) CEO and managing director Ok Krithivasan drew Rs 25.36 crore in annual compensation throughout FY24, the bottom among the many massive IT firms.

Of the Rs 66.25 crore compensation for FY24, Parekh earned Rs 7 crore in base pay, Rs 47 lakh as retiral advantages, and Rs 7.47 crore as variable pay or bonus. Parekh earned Rs 39.03 crore by exercising his restricted inventory models (RSUs).

In a letter to shareholders, Parekh mentioned that in FY24, the corporate’s relentless deal with execution enabled it to ship progress and working margin resilience.

“We generated $2.9 billion of free money movement. We labored intently with our shoppers on their value, effectivity, automation, and consolidation programmes to generate $17.7 billion of enormous offers, the best now we have had yearly, which showcases the relevance of our service choices for shoppers,” Parekh mentioned.

“Over the previous 5 years, from monetary 12 months 2020 to 2024 now we have returned 85 per cent of free money movement to you, our shareholders, as per our capital allocation coverage, which is a return of $2.3 billion to shareholders,” he added.

Parekh mentioned throughout FY24, Infosys recruited almost 11,900 school graduates and ended the 12 months with over 3,17,000 workers. “Our attrition lowered to 12.6 per cent. We educated over 2,50,000 workers on AI expertise. Our deal with gender range continues with about 39 per cent of our workforce consisting of ladies workers,” he mentioned.

First Revealed: Jun 03 2024 | 5:35 PM IST