Key Points
C Vijayakumar, managing director and CEO of HCL Technologies, Indias third-largest IT services company by market cap, was the eleventh-highest paid, taking home $3.46 million, or about Rs 28 crore, (he is based out of the US) in FY23.ETtech..
The IT services industry continues to be the top CEO paymaster in India despite business headwinds in the past two years, going by FY23 numbers when seven out of the 10 highest earning CEOs in the country were from this sector...
Thierry Delaporte of Wipro, Sandeep Kalra of Persistent Systems, Nitin Rakesh of Mphasis, Salil Parekh of Infosys, Sudhir Singh of Coforge, CP Gurnani, outgoing CEO of Tech Mahindra, and Rajesh Gopinathan, former CEO of TCS, were among the 10 highest-paid MDs and CEOs last financial year, along with Abhay Bhutada of Poonawalla Fincorp, Satish Pai of Hindalco, and SN Subrahmanyan of L&T...
Anandorup Ghose, partner at Deloitte India, pointed out that CEOs of Indian IT services companies are often based abroad or operate out of multiple locations globally even if they are based in India as they primarily serve customers outside of the country...
Recent times have seen a much stronger focus from company boards on linking CEO pay to the companys performance, financials, and valuation (market cap growth for listed companies)...
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