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Infosys CEO Salil Parekh’s Salary Jumps To Rs 71 Crore, A 43% Hike: 5 Points – NDTV Profit

Salil Parekh Infosys CEO: Rs 71 Crore compensation in fiscal 2022

Infosys Chief Executive Officer, Salil Parekh, was paid Rs 71 crore salary in fiscal 2021-22, according to a stock exchange filing, a near 43 per cent jump from Rs 49.68 crore in 2020-21.

Here Is Your 5-Point Guide To The Story:

  1. The breakdown of Mr Parekh’s salary showed: Rs 52.33 crore in perquisites on account of stock options exercised, fixed pay of Rs 5.69 crore, including Rs 38 lakh in retirement benefits. The salary also included Rs 12.62 crore in variable pay.

  2. That comes on the heels of a decision by the board of Infosys Limited, India’s second-largest IT services company, which showed Salil Parekh was reappointed as its Chief Executive Officer (CEO) and Managing Director (MD) for a five-year term ending March 2027.

  3. Mr Parekh has been the Chief Executive Officer and Managing Director of Infosys since January 2018.

  4. Salil Parekh’s jump in compensation results from Infosys board of directors’ approval of a grant of 104,000 shares to six key management personnel and another 375,760 shares to 88 other senior executives.

  5. But Nandan Nilekani, the non-executive chairman, voluntarily chose not to receive any remuneration for his services rendered to the Company.