Infosys CEO Vishal Sikka rakes in $7.45 million in salary this year

Infosys chief executive Vishal Sikka took home an annual salary package of $7.45 million for the 2015-16 financial year, while other top company executives such as operating chief UB Pravin Rao and general counsel David Kennedy also raked in multi-million dollar pay packages.

Sikka's salary, which compared favorably against other top IT CEOs such as N Chandrasekaran of TCS and Abidali Neemuchwala of Wipro, includes his earnings from incentives and and bonuses as well as his stock options.

Earlier in 2016, Infosys's board rewarded Sikka with a significant pay hike and an extension on his current tenure, after he effected a turnaround in the fortunes of Infosys that helped the company trump other top rivals and deliver industry-level growth rates after years.

As part of the new proposed compensation structure, Sikka stands to make about $11 million every year, starting January 2017. Infosys has rewarded with a significantly higher component of stock options and reduced the part of his salary that was linked to variable pay. As part of his old contract, Sikka made $7.08 million, including stock options.

Since last year, Infosys has raised salaries of top executives significantly, as part of a broader strategy to retain key executives and subsequently reward rainmakers.

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