Infosys boss Shibulal takes 26.5% salary cut in FY13

The cut was because of the board aligning compensation of employee directors in line with that applicable to other employees as well, the CNBC-TV18 report said.

May 16, 2013 / 08:27 IST

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Infosys CEO SD Shibulal took a 26.5 percent cut in salary for FY13 because of a steep reduction in bonus component, reports CNBC-TV18. Shibulal's annual compensation for FY13 stood at USD 119,774, compared to USD 162,990 the previous year.

Shibulal's bonus in FY13 fell 70.14 percent to USD 15,918 versus USD 53,326.

The cut was because of the board aligning compensation of employee directors in line with that applicable to other employees as well, the CNBC-TV18 report said.

All executive directors entitled to bonus of up to 20 percent of fixed salary, and also performance incentives which are payable on achievement of certain financial targets.

Also Read: ATM heist: India's IT sector in unwelcome spotlight

first published: May 15, 2013 01:21 pm

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