Infosys CEO Salil Parekh’s compensation has increased 88 percent to Rs 79.75 crore a year, making him one of the highest paid executives in India
As the software services firm justified the fat hike citing industry-leading growth in recent years.
The new employment agreement, subject to shareholder approval, will come into effect on July 2
For FY22, Parekh took home a salary of Rs 71 crore, of which Rs 52 crore came from exercising RSUs or restricted stock units granted to him before.
Infosys co-founder and chairman Nandan Nilekani voluntarily chose not to receive any remuneration for his services rendered to the company.
Such an enormous salary hike is unusual for a firm that often prides itself on humble origins and middle class background of founders.