New Delhi: IT main HCL stated in its annual report that its chief government officer C. Vijayakumar acquired a wage of Rs 123.13 crore ($16.52 million) in 2021 – which makes him the highest-paid CEO of an Indian software program firm. “Mr. C. Vijayakumar didn’t obtain any remuneration from the Firm, nevertheless, he acquired remuneration [Including Long-term Incentive (“LTI”)] of USD 16.52 million (equal Rs 123.13 crores) from HCL America Inc., a step-down wholly owned subsidiary of the Firm,” the IT agency stated within the annual report.
HCL Tech stated that there was no change in his remuneration throughout the FY 2021-22 aside from receipt of USD 12.5 million as LTI (Lengthy-Time period incentive) that’s paid at mounted intervals (on the finish of two years) primarily based on the achievement of milestones/parameters mounted by the Board. (ALSO READ: Watch out for Immediate mortgage App fraud! State Financial institution of India shares 6 security ideas)
“Accordingly, the cost of the above LTI is for 2 years that ended on March 31, 2021 viz. USD 6.25 million for FY 2019-20 and USD 6.25 million for the FY 2020-21,” the corporate added in its report. (ALSO READ: Ashneer Grover feels Zomato shares could be Rs 450 if…: His hypothetical scenario will get combined reactions)
HCL CEO C Vijayakumar’s Wage Breakup
Vijayakumar acquired a $2 million base earnings every year together with an extra $2 million in variable pay. For the fiscal yr that concluded on March 31, the CEO additionally acquired $0.02 million in perquisites and different advantages. In line with Noida-based HCL Tech’s annual report, the LTI of $12.50 million elevated his general earnings to $16.52 million.
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