According to the most recent annual report from HCL Tech, which was published not too long ago, the company paid its chief executive officer (CEO), C. Vijaykumar, a total of Rs 123.13 crore in compensation in 2017. As a result, Vijayakumar is currently the most well-compensated CEO in India. The business made it clear that three-quarters of Vijayakumar’s income comes from long-term advantages such stock options and pensions.
“Mr. C. Vijayakumar did not receive any remuneration from the Company; however, he received remuneration [Including Long-term Incentive (“LTI”)] of USD 16.52 million (equivalent Rs 123.13 crores) from HCL America Inc., a step-down wholly owned subsidiary of the Company, during the period of his employment with HCL America Inc., during the period of his employment with HCL America Inc., during the period “according to what was stated in the annual report of the company.
According to the investigation, Vijayakumar earned a total annual compensation of $4 million, including a basic salary of $2 million and another $2 million in variable pay. In addition, he was given a total of $0.02 million in perks, benefits, and other compensation for the fiscal year that concluded on March 31. HCL further stated that this brought his total compensation to $16.52 million, including the LTI payment of $12.50 million.
“There has been no change in his remuneration during the FY 2021-22, with the exception of the receipt of USD 12.5 million as LTI (Long-Term Incentive), which is paid at fixed intervals (at the end of two years) based on the achievement of milestones/parameters fixed by the Board, in accordance with the terms of his employment contract. ” “according to the annual report’s findings. According to the report, “Consequently, the payment of aforementioned LTI is for two years that ended on March 31, 2021, viz. USD 6.25 million for FY 2019-20 and USD 6.25 million for the FY 2020-21.”
If LTI is not included in Vijayakumar’s income for the year that ended in March 2020, then his compensation comes to around $10.27 million. This is a little less than what Thierry Delaporte, the CEO of Wipro, earned, which was $10.5 million.
On the other side, Salil Parekh, the CEO of Infosys, saw a 43% increase in his total remuneration, which brought it up to $10.2 million per year in 2021-22. On the other hand, TCS compensated its CEO Rajesh Gopinathan with a total of $3.3 million in salary and benefits.