Cognizant, one of the most prominent IT companies in India, has appointed a new CEO. Ravi Kumar has been appointed as the company's new chief operating officer. He will also serve on the company's board. Kumar brings in over two decades of experience in the country's information technology sector. He has replaced Brian Humphries as CEO. Who is Ravi Kumar?
Ravi Kumar has been the President of another IT giant Infosys between 2016 and 2022. He remained with the company for a total of two decades. Humphries had resigned after remaining at the post for four years over the company's underperformance.
Kumar also served on the boards of TransUnion and Digimarc Corp.
He is a highly educated leader. He did his engineering from Shivaji University and MBA from Xavier Institute of Management.
The outgoing CEO will remain with the company till 15 March as a special advisor.
Ravi Kumar will be compensated with a massive salary package. His salary will be over four times Mukesh Ambani's salary in 2020. It must be noted that Ambani has taken only Re 1 as salaries for the past two years.
Here's Ravi Kumar's salary package as per TOI. His overall salary will be a whopping Rs 57 crore per annum (7 million dollars). He will also receive a joining bonus of 7,50,000 dollars which is around Rs 6 crore in Indian rupees. His basic pay will be one million dollars or Rs 8,13,57,500. 2 million dollars will be his cash incentive. He will get stock returns worth 5 million dollars as a one time hire award.
Humphries received a salary of 13.8 million dollars in 2020.
Mukesh Ambani's yearly salary was Rs 15 crore in 2019-20. He has stopped taking salaries now.
Kumar will oversee on-demand solutions, solid branding and international expansion at Cognizant.
