Wipro CEO Thierry Delaporte has become Indian IT sector’s highest paid executive as papers filed with the US Securities and Exchange Commission showed that his annual pay package in the fiscal year ending March 31, 2022, was Rs 79.8 crore ($10.51 million).
In FY21, Delaporte’s annual salary was Rs 64.3 crore ($8.7 million). His compensation figure was for nine months in that year as the 55-year-old joined the company in July 2020.
The Wipro CEO in FY22 took home Rs 13.2 crore ($1.74 million) in salary and allowances, Rs 19.3 crore ($2.55 million) in form of commissions and variable pay, while in terms of other benefits, he received Rs 31.8 crore ($4.2 million) from the company. The rest of Delaporte’s pay package was formed by long-term compensation or deferred benefits.
Delaporte’s package also includes one-time cash awards which was approved by Wipro’s shareholders at the company’s annual general meeting in July 2020.
Meanwhile, Wipro chairman Rishad Premji in FY22 took home $1.82 million, as compared to $1.62 million last year.
In rupee terms, the chairman’s compensation jumped to Rs 13.8 crore from Rs 11.8 crore last year. However, Premji was not given stock options in FY22.
This comes after Infosys’ annual report said that its CEO, Salil Parekh’s compensation jumped 43 per cent to Rs 71 crore in FY22. The company has now revised his salary, to Rs 79.75 crore, up 88 per cent from his previous package.
At India’s largest IT services company TCS, its CEO and MD Rajesh Gopinathan received a remuneration package of Rs 25.8 crore for FY22, up 26.6 per cent on year, the firm’s annual report showed.