Infosys new CEO Salil Parekh to get Rs 16.25 crore as annual salary

Bengaluru : Global software major Infosys will pay its new Chief Executive Officer and Managing Director Salil S. Parekh a whopping Rs 16.25 crore salary per annum, said the IT major on Thursday.

In a regulatory filing on the BSE, the company said in addition to Rs 6.5 crore fixed pay and Rs 9.75 crore variable pay, Parekh would get restricted stock units (RSUs) equivalent to Rs 3.25 crore and performance equity grant worth Rs 13 crore, taking the annual package to Rs 32.5 crore for five years from January 2, 2018 to January 1, 2023.

"The compensation for Parekh is subject to approval of shareholders through postal ballot and electronic voting by February 20," said the filing. The company's Board has appointed its Company Secretary Parameshwar G. Hegde as the scrutiniser for conducting the postal ballot.