Infosys Revises CEO Salil Parekh's Remuneration Upwards by 88%

Infosys has raised CEO Salil Parekh's compensation by 88% this year, making him one of the highest-paid executives in India. The surge follows his reappointment for five years starting July 1.

The company plans to seek shareholder approval of the revised compensation at the annual shareholders' meeting on June 25. The tech giant justified the increase by citing industry-leading growth in recent years. Parekh took over Infosys' leadership on January 2, 2018.

Palek's salary will increase from Rs 42.50 crore to  Rs 79.75 crore the fixed salary will be Rs 11 crore as against Rs 9.75 crore. The rest will be performance salaries Rs 17 crore will be cashed based on specific investment indicators and the rest will be performance-based stock incentives.

Bold increases could widen the gap between the CEO's salary and Infosys employees. In 2021-22, the median compensation ratio for CEOs and employees was 229 and 872.

Infosys said in its annual report that the nomination and remuneration committee recommended a revision of the compensation structure because Parekh was not the first-time CEO and MD.

TCS CEO Rajesh Gopinathan has an annual salary of Rs 25.76 crore and Paris-based Wipro CEO has an annual salary of Rs 64.34 crore. HCL Tech CEO has a package of Rs 32.21 crore and Tech Mahindra earns Rs 22 crore.