Infosys' Salil Parekh is the second-highest-paid chief executive officer (CEO) of an IT company in India. He received Rs 66.25 crore in FY24, according to remuneration data compiled from annual reports. Salil has nearly three decades of global experience in the IT services industry. Salil is only behind Wipro’s former CEO Thierry Delaporte, who earned USD 20 million (about Rs 166 crore) in FY24. Delaporte joined Wipro in June 2020 for a five-year term but resigned in April this year. Before this, Delaporte had worked as Chief Operating Officer (COO) of Capgemini Group for 25 years.
Meanwhile, Parekh's salary in FY24 increased primarily because he exercised higher restricted stock units (RSUs), a form of equity compensation offered to employees. He earned Rs 39.03 crore by exercising his RSUs. Of the Rs 66.25 crore compensation for FY24, Parekh earned Rs 7 crore in base pay, Rs 47 lakh as retiral benefits, and Rs 7.47 crore as variable pay or bonus. Parekh’s FY23 compensation had declined to Rs 56 crore from Rs 71 crore in FY22.
Parekh has been leading the IT firm since January 2018. He is an alumnus of IIT Bombay. He graduated in Aeronautical Engineering. The 59-year-old also holds a Master of Engineering degree in Computer Science and Mechanical Engineering from Cornell University. Before joining Infosys, he used worked at Capgemini and Ernst & Young's consultancy division.
READ | Meet woman with Rs 8330 crore net worth, who left Ratan Tata's company, then founded firm from her flat, she is...
