It is noteworthy that his pay package does not include earnings from the shares he holds in Wipro.
Coming to Wipro's billionaire chairman
Economic Times reported the salary of Premji, who currently holds 73.39% of Wipro's total shares, includes a 0.3% commission on incremental net profits of Wipro during a typical financial year.
"Azim H. Premji was paid a commission at the rate of 0.3% on incremental net profits of Wipro Ltd. over the previous year computed based on the method approved by the Board Governance, Nomination and Compensation Committee and in accordance with the provisions of the Companies Act, 2013," Wipro said in a regulatory filing to the US Securities and Exchange Commission.
ET reported that during the financial year ended March 2015, Kurien's total package stood at $1.46 million, including variable pay, bonus and other long-term compensation payouts, according to the filing. Wipro's former finance Suresh Senapaty, who retired earlier this year, took home a pay package of $541,561 during the year.
Meanwhile, CEO of Infosys, Vishal Sikka, gets an annual pay package of $5.08 million, without stock options. ET in its report said that on a pro rata basis, Sikka made $741,433 during 2014-15. CEO of Tata Consultancy Services, N. Chandrasekaran, commanded a salary of nearly $3.15 million during 2013-14.
CEOs of India's IT industry are among the best paid leaders across industries in the corporate sector over the past decade.
But, e-Commerce companies such as
For instance, in March, two of
(Image: Indiatimes)