Wipro’s former chief executive officer (CEO) and managing director (MD) Thierry Delaporte has become the highest-paid CEO in the Indian IT industry in FY2024 as he took home over $20 million (or over Rs 165 crore). Have earned Rs. This is the second consecutive year that he has become the highest paid CEO. Delaporte resigned as IT software chief in April and was replaced by Srinivas Palliya, IANS reported.
Salary and Allowances
Reportedly, according to Wipro’s 20-F filing with the US Securities and Exchange Commission (SEC), Delaporte earned more than $3.9 million in salary and allowances and more than $5 million in commission/variable income. He received $7 million in additional payments and more than $4 million in long-term compensation. In comparison, Palliya gets an annual salary package of around Rs 50 crore, ranking second among CEOs in the Indian IT industry for FY25.
Company performance
This happened when Wipro’s revenue fell from Rs 90,486 crore to Rs 89,760 crore (year-on-year) in FY24. According to stock exchange filings, the company’s revenue declined 4.2 percent to Rs 22,208.3 crore in the three months ended March 31. The Bengaluru-based company had reported consolidated revenue of Rs 23,190.3 crore in the same quarter a year ago. Wipro reported a net profit of Rs 2,835 crore, up 8 percent for the January-March quarter of FY2023-24, as against Rs 3,074.5 crore in the same period last year. Many CEOs of Indian origin are also known for their hefty salaries in the world. These CEOs are leading companies from various sectors.
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