HCL Technologies CEO to become the highest-paid boss among IT peers
By Sanjay Maurya
News Highlights
- CEO C. Vijayakumar of HCL Technologies Ltd. is expected to earn about $10.8 million per year over the next five years.
- For the first time, HCL Technologies, located in Noida, published its chief executive’s income in its annual report.
- HCL’s revenue has increased 46 percent in the previous four years. from $6.97 billion to $10.17 billion.
HCL Technologies CEO to become the highest-paid boss among IT peers
President and CEO C. Vijayakumar of IT services business HCL Technologies Ltd. is expected to earn about $10.8 million per year over the next five years, making him the highest-paid IT executive among peers in the Indian software services industry.
The pay increase also shows that the country’s third-largest software exporter has moved away from its long-standing image as a conservative paymaster. Vijayakumar has been the company’s CEO since October 2016, however, he was not a member of the 12-member board of directors. HCL founder Shiv Nadar stepped down from the board last month, allowing Vijayakumar to take over as managing director.
For the first time, HCL Technologies, located in Noida, published its chief executive’s income in its annual report.
Vijayakumar’s total remuneration for the year ending March 31 will be $4.38 million, including a $2 million base salary, $2 million in variable pay, and $384,000 in perquisites and other benefits.
He will also get $31.5 million in stock options and restricted stock units over the next five years, until March 31. HCL, on the other hand, did not disclose any information on how stock options and restricted stock units are divided (RSUs). is available throughout the year.
The annual report of the Noida-based firm also failed to properly disclose the structure of variable compensation and vesting duration for employee stock options, according to the study.
- Wipro Ltd – in the year to March $8.13 billion revenue – paid its chief executive Thierry Delaporte $8.8 million in 2020.
- Infosys Ltd with $13.56 billion revenue, paid CEO Salil Parekh $6.78 million.
- Tata Consultancy Services (TCS) CEO Rajesh Gopinathan was paid the least $2.8 million, a company with $22.17 billion in revenue in 2020.
- Teaneck, New Jersey-based Cognizant with $16.65 billion revenue paid chief executive Brian Humphries $13.8 million.
HCL’s revenue has increased 46 percent in the previous four years, from $6.97 billion at the end of March 2017 to $10.17 billion by the end of March 2021, thanks to Vijayakumar’s leadership.
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