Rishad did not take any commission in FY 2023-24
Remuneration of IT company Wipro, Executive Chairman, Rishad Premji, doubled the remuneration in the financial year 2024-25 to about Rs 13.7 crore. However, it is still about 400% less than the company’s remuneration of Srinivas Palia, CEO of the company. The annual income of Srinivas Palia is around Rs 53.64 crore. This information has been revealed in the company’s latest annual report. In the financial year 2023-24, Rishad Premji did not take any ‘commission’ as the company’s increases integrated net profit was negative that year. That year, he took a salary of about Rs 6.4 crore with a salary cut of about 20 percent.
Srinivas got less than half salary compared to former CEO Thierry Delaport
However, during FY 2024-25, the net profit of Wipro increased by 18.9 percent to Rs 13,135.4 crore. According to the ’20 -F filing ‘(annual report) submitted by Wipro to the US Securities and Exchange Commission, Premji’s remuneration doubled in FY 2024-25 to about Rs 13.7 crore, which was around Rs 6.4 crore in FY 2023-24. On April 7, 2024, Srinivas Palia, who held the post of CEO and Managing Director, received a remuneration of about Rs 53.64 crore in FY 2024-25. But surprisingly, this remuneration of Palia is less than half of the salary of Thierry Delaporte, former CEO of the company.
Delaporte received a salary of about Rs 168 crore in FY 2023-24
Delaporte received a salary of about Rs 168 crore in FY 2023-24. According to the documents, Palia earned around 1.5 million dollars in the form of salary and allowance, around 1.8 million dollars as commission/convertible salary, about 28 million dollars classified as ‘others’ and $ 68,850 as long -term compensation. According to this, Premji and Palia are entitled to ‘commission’ at the rate of 0.35 per cent on the agreed integrated net profit to the company as compared to the previous financial year. In addition, Palia was also allocated 16,77,202 stock options with different ‘lock-in’ periods. However, in FY 2024-25, Premji was not given any share option.
With PTI inputs
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