Wipro’s new CEO will get around $6 million annually as salary and other benefits

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Wipro’s new CEO Srinivas Palliya will get an annual remuneration of up to Rs 50 crore, including salary and other benefits. The Bengaluru-based IT company had announced the appointment of Palliya as its new CEO and Managing Director following the sudden resignation of Thierry Delaporte. Delaporte used to get Rs 80 crore annually.

New Delhi . Wipro’s new CEO Srinivas Palliya will get an annual remuneration of up to US $ 6 million (about Rs 50 crore). This includes salary and other benefits. The Bengaluru based IT company gave this information to the stock market. Wipro had in April announced the appointment of Palliya as its new CEO and managing director following the sudden resignation of Thierry Delaporte. Last year, Delaporte’s annual salary of more than Rs 80 crore at Wipro was in the news.

Wipro told the stock exchange that Palliya’s remuneration will be between $3.5 million and $6 million per annum (depending on the base salary and target variable pay based bottom and top pay levels). The company said the actual payout will be based on organization-level achievements on revenue and profit parameters and other criteria of the board of directors. Wipro has also granted long-term incentives to Palliya in the form of American Depositary Shares (ADS) Restricted Share Units (ADS RSU) and ADS Performance Share Units (ADS PSU) amounting to US$ 4 million. The company’s board has also approved cash compensation to former Chief Executive Officer and Managing Director Thierry Delaporte.

Disclaimer: CricketInFocus has not edited this news. This news has been published from PTI-language feed.



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