Wipro CEO's pay rises 34.5% in FY18

Wipro chief executive Abidali Z Neemuchwala saw his pay package growing over 34 per cent to Rs 182.3 million during FY2017-18 compared to the previous fiscal, as per the company's annual report.

 

Chief Strategy Officer Rishad A Premji’s compensation also grew by more than 250 per cent to Rs 58 million in the said fiscal.

 

Azim H Premji, the Executive Chairman and MD, saw his remuneration increase 10.13 per cent to Rs 8.7 million in FY-18. According to the report, Neemuchwala — who was paid in US dollars — received an equivalent of Rs 62.9 million in gross salary, Rs 17 million in variable pay, Rs 101.9 million in other annual compensation along with other perks, taking his total compensation to Rs 182.3 million for FY2017-18.

“Computation of remuneration to CEO and Executive Director is on an accrual basis and includes amortisation of ADS Restricted Stock Units (RSUs) granted to him, which vests over a period a time. This also includes RSUs that vest based on performance parameters the company," the report added.

 

Rashid Premji received Rs 9.33 million in salary, Rs 5.35 million in allowances and Rs 41.3 million under commission/incentives/variable pay with other perks, taking his compensation for the fiscal to Rs 58 million.

 

The report said the computation of remuneration to Rishad Premji included cash based bonus (part of his variable pay) on an accrual basis which is payable over a period of time.

Besides, Wipro CFO Jatin Dalal saw his remuneration increase by 2.42 per cent to Rs 46.5 million.