Infosys CEO Salil Parekh gets salary hike around Rs 80 crore
The software firm justified the pay hike, citing Infosys CEO is because of industry-leading growth in recent years.
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Software major Infosys CEO Salil Parekh’s compensation has been revised upwards by 88% to Rs 79.75 crore per annum, making him one of the highest paid executives in India. The software firm justified the massive pay hike, citing Infosys’ industry-leading growth in recent years.
That such an enormous salary hike of this nature is unusual for a firm that often prides itself for its humble origins and the middle class background of its founders was apparent. The company gave an unusually long explanation in its annual report, released on Thursday, on why it decided to reward Parekh so handsomely. The salary announcement comes days after it reappointed Salil Parekh as Managing Director and Chief Executive Officer for five more years, from July 1, 2022 to March 31, 2027, reposing trust in a leader who has turned around the company and restored stability.
The company said it considered key factors such as total shareholder return, rise in market cap and growth while recommending his reappointment and change in remuneration.
