Wipro CEO Abidali Neemuchwala's pay package up 34.5% to Rs 18 cr in FY18; Azim Premji's by 10.13% to Rs 87 lakh

New Delhi: Wipro chief executive Abidali Z Neemuchwala saw his pay package growing over 34 percent to Rs 18.23 crore during FY 2017-18 compared to the previous fiscal, as per the company's annual report.

Chief Strategy Officer (CSO) Rishad A Premji's compensation also grew by more than 250 percent to Rs 5.8 crore in the said fiscal.

Azim H Premji, the Executive Chairman and Managing Director, saw his remuneration increase 10.13 percent to Rs 87 lakh in FY 2018.

According to the report, Neemuchwala -- who was paid in US dollars -- received an equivalent of Rs 6.29 crore in gross salary, Rs 1.70 crore in variable pay, Rs 10.2 crore in other annual compensation along with other perks, taking his total compensation to Rs 18.23 crore for FY2017-18.

"Computation of remuneration to CEO and Executive Director is on an accrual basis and includes amortisation of ADS Restricted Stock Units (RSUs) granted to him, which vests over a period a time. This also includes RSUs that vest based on performance parameters the company," the report added.

File photo of Abidali Neemuchwala. Reuters

File photo of Abidali Neemuchwala. Reuters

Rashid Premji received Rs 93.33 lakh in salary, Rs 53.52 lakh in allowances and Rs 4.13 crore under commission/incentives/variable pay along with other perks, taking his compensation for the fiscal to Rs 5.8 crore.

The report said the computation of remuneration to Rishad Premji included cash based bonus (part of his variable pay) on an accrual basis, which is payable over a period of time.

Besides, Wipro CFO Jatin Dalal saw his remuneration increase by 2.42 percent to Rs 4.65 crore.

Updated Date: Jun 25, 2018 13:58 PM

Also Watch

Social Media Star: Abhishek Bachchan, Varun Grover reveal how they handle selfies, trolls and broccoli
  • Monday, July 16, 2018 It's a Wrap: Soorma star Diljit Dosanjh and Hockey legend Sandeep Singh in conversation with Parul Sharma
  • Monday, July 16, 2018 Watch: Dalit man in Uttar Pradesh defies decades of prejudice by taking out baraat in Thakur-dominated Nizampur village
  • Monday, July 16, 2018 India's water crisis: After govt apathy, Odisha farmer carves out 3-km canal from hills to tackle scarcity in village
  • Sunday, July 15, 2018 Maurizio Sarri, named as new Chelsea manager, is owner Roman Abramovich's latest gamble in quest for 'perfect football'

Also See