BENGALURU: WiproThe modest performance over the last year has resulted in a significant pay cut for Chairman Rishad Premji. According to the company’s annual report, released Thursday, Premji took home $951,353 over the year, down nearly 50% from the $1.8 million he took home the year before.
Be Salary included a base component of $861,620, long-term benefits of $74,343 and other allowances of $15,390. He received no commission. Premji is entitled to a commission of 0.35% on Wipro’s incremental consolidated net income for the previous financial year. However, the report stated that no commission was payable to him as the incremental consolidated net income was negative. CEO Thierry Delaporte’s salary decreased marginally from $10.5 million in FY22 to $10 million in FY2023.
Be Salary included a base component of $861,620, long-term benefits of $74,343 and other allowances of $15,390. He received no commission. Premji is entitled to a commission of 0.35% on Wipro’s incremental consolidated net income for the previous financial year. However, the report stated that no commission was payable to him as the incremental consolidated net income was negative. CEO Thierry Delaporte’s salary decreased marginally from $10.5 million in FY22 to $10 million in FY2023.
Recently, Cognizant filings showed that its former CEO Brian Humphries’ salary fell 9% from $19.6 million last year to $17.9 million in 2023. His non-equity incentives also fell from $4 million to $1.7 million. Wipro and Cognizant’s performances were among the weakest in their peer group over the past year.
Wipro CFO Jatin Dalal’s salary also fell slightly from $1.5 million in FY22 to $1 million in FY23. The annual report said one of the key areas the company has invested in is talent.
