Infosys CEO Salik Parekh's pay package sees big jump from Rs 34.27 cr in 2019-10

Infosys CEO Salil Parekh saw his annual pay package jump to Rs 49.68 crore in 2020-21, with more than half of the total amount coming from the exercise of stock options. Parekh's compensation was at Rs 34.27 crore in 2019-20. The company's annual report for 2020-21 showed that his compensation included Rs 6.07 crore in salary, Rs 12.62 crore in bonus, incentives or variable pay, and Rs 30.99 crore in perquisites on account of stock options exercised.

Rajesh Gopinathan, chief executive officer and managing director of India's largest IT services firm Tata Consultancy Services, drew a pay package of Rs 20.36 crore in 2020-21.

Infosys Chairman Nandan Nilekani voluntarily chose not to receive any remuneration for his services rendered to the company during 2020-21, the report said. Its Chief Operating Officer U B Pravin Rao's compensation rose about 63 percent to Rs 17.33 crore in FY21 from Rs 10.6 crore in the previous fiscal.

The percentage increase of remuneration in fiscal 2021 as compared to fiscal 2020 (excluding perquisite value of stock incentive exercised during the year) was 8 percent for Parekh and 14 percent for Rao, as per the report. In his note to shareholders in the annual report, Parekh expressed optimism about growth opportunities.

"As I look ahead, I am more optimistic than ever of the enormous opportunity ahead of us. Technology, especially digital and cloud, continues to be at the centre of change for large enterprises globally. "We are among the best-positioned companies to partner with these enterprises and help them accelerate their digital journey to realise their objectives," he wrote.

He noted that the company delivered exceptional results in the financial year 2020-21 even amid a pandemic-hit year. "Our clients have been expanding their work with us, especially in the areas of digital and cloud.

"The capabilities that we have built over the past three years, including differentiated offerings like Infosys Cobalt, are what large enterprises are looking for," he said. Parekh added that Infosys' market-leading capabilities in data and analytics, cybersecurity, artificial intelligence, automation, and internet of things are enabling it to be a "critical partner" for its clients.

"Our acquisitions in the past year  GuideVision, Blue Acorn, Kaleidoscope, and Carter Digital have helped further strengthen our digital portfolio.

"We are rapidly becoming an integral part of the digital and cloud transformation journeys of our clients," he further said.

Nilekani said the proactive action that Infosys has taken over the last three and a half years has "decisively enabled" it to set the narrative for the global digital services and consulting industry. "Infosys will continue to innovate and is well placed to lead the industry in the coming years," he added.

Infosys' 40th annual general meeting will be held on June 19 through video conference and other audio-visual means. 

(Image Credits: PTI/@Infosys-Twitter)