Infosys CEO Salil Parekh, received a salary of 71 crore in fiscal 2021-22, up from 49.68 crore in fiscal 2020-21, according to a stock exchange filing.
Mr Parekh’s income was broken down as follows: 52.33 crore in perquisites for stock options exercised, 5.69 crore in fixed pay, and 38 lakh in retirement benefits. Variable pay of 12.62 crore was also included in the salary.
That follows the board of directors of Infosys Limited, India’s second-largest IT services company, re-appointing Salil Parekh as Chief Executive Officer (CEO) and Managing Director (MD) for a five-year term ending in March 2027.
Since January 2018, Mr. Parekh has served as the Chief Executive Officer and Managing Director of Infosys.
The board of directors of Infosys approved a grant of 104,000 shares to six key management professionals and another 375,760 shares to 88 additional senior executives, resulting in Salil Parekh’s pay increase.
However, Nandan Nilekani, the non-executive chairman, opted out of receiving any compensation for his services to the company.