Infosys CEO Salil Parekh earned the highest salary in the previous fiscal year compared to his contemporaries at TCS and Wipro as per regulatory filings released by software majors.
His salary stood at $6.15 million in FY20, which is 27% higher as compared to previous year. While the salary of Wipro’s CEO, Abidali Neemuchwala rose 12 percent to $4.42 million, TCS CEO Rajesh Gopinath’s salary was cut by 16% over the same period. His term ended on June 1 and Thierry Delaporte from Capgemini group will be taking over from July 6, 2020.
All companies mentioned that the COVID19 pandemic has affected their profitability and business as clients seek discounts and suspend projects.
Wipro’s founder chairman Azim Premji and chairman Rishan Premji announced that they would forego profit linked commission for last year in view of COVID19.
Infosys Chairman Nandan Nilekani also chose not to receive remuneration for his services.
“According to the TCS annual report, the executive remuneration for FY 2020 is lower than FY 2019 in view of the economic conditions impacted by the COVID-19 pandemic. The directors have decided to moderate the executive remuneration for this year to express solidarity and conserve resources,” Times Now cited in its report.
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