Rajesh Gopinathan, the former chief executive officer (CEO) and managing director of Tata Consultancy Service (TCS), earned Rs 29.16 crore in salary in the financial year 2022-23, a 13.17 per cent jump in his salary from the previous year. The numbers were revealed in the company’s annual report released on Wednesday.
However, the salary of the former top executive of TCS, India’s largest software company, in the last financial year was much lesser than his industry peers, the CEOs of tech giants Infosys and Wipro. While Wipro CEO Thierry Delaporte drew a salary of Rs 82.4 crore in FY23 ($10 million), Infosys CEO Salil Parekh earned Rs 56.44 crore the same year.
Gopinathan’s compensation included his basic salary; benefits, perquisites and allowances; and commission. He received a commission of Rs 25 crore in FY23. The compensation does not include employee stock purchase scheme (ESPS). He holds around 2,760 stocks in TCS.
In the previous year (FY22), Gopinathan received a total compensation of Rs 25.75 crore.
He was the fifth highest-paid IT CEO in India in 2021-2022.
Rajesh Gopinathan was succeeded by K Krithivasan took over as TCS CEO on June 1. While Krithivasan’s compensation package was not disclosed, he will be paid a basic salary of Rs 10 lakh per month, which can go up to a maximum of Rs 16 lakh per month. Krithivasan, as of FY23, holds around 11,232 company shares. However, like in the case of Gopinathan, the commission is subject to the company’s performance and will make up a bulk of his remuneration.
During Gopinathan's stint, TCS became India's second most valuable company, crossing $168 billion in market cap in FY23. Its revenue and client base also grew.
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