Infosys CEO Vishal Sikka takes home Rs 43 cr in FY17

April 14, 2017 18:59

Infosys CEO Vishal Sikka, whose pay package was one of the contentions raised by the founders, has drawn USD 6.68 million (about Rs 43 crore) or 61 per cent of the promised compensation for the 2016-17 fiscal.

Sikka was eligible for a USD 11 million pay including basic salary, variable pay, restricted stock units and performance stock options for the year.

Incidentally, this is also lower than what Sikka drew in the previous financial year when he took home Rs 48.73 crore.

According to Infosys' financial statements that outline compensation to key executives, Sikka received only USD 3.68 million of the USD 8 million variable component that he was promised.

One of the highest paid executives in the Indian IT industry, Sikka took home USD 0.82 million in variable pay, USD 1.9 million in RSUs and ESOPs worth USD 0.96 million, totalling USD 3.68 million.

Sikka's salary was revised from USD 7.08 million to a handsome USD 11 million package with effect from April 2016, a move that did not go down well with the founders, including NR Narayana Murthy.

The USD 11 million package was to include a base salary of USD 1 million and USD 2 million worth of stock annually as well USD 3 million in variable pay.

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