At the end of a busy year, COVID-19 has caused significant disruption to normal business, and the CEO salaries reflect the sales in the belly of Indian companies. Although some top IT and metal executives have received generous rewards for the company’s performance in FY21, several other hotels and fast-moving consumer goods executives have been fired.
The pandemic interrupted business for 21 fiscal years and caused changes to the compensation package not only for executives but also for young and middle-aged employees in all industries. According to preliminary data from listed companies, Wipro’s Thierry Delaporte has grown into one of the highest-paid CEOs of Indian companies in 21 fiscal years.
The company’s CEO earned a total salary of 640 million rupees in the 21 fiscal years in July 2020, making it the best company. The highest-paid CEO in the IT industry. Salil Parekh of Terpart from Infosys received 497 million rupees in the 21st fiscal year, an increase of 45% from the 34.3 million rupees in the 2020 fiscal year. More than half of Parekh’s 21 fiscal years’ payments came from a limited unit of Rs 310 million that it spent in that year.
Infosys chairman Mohit Joshi followed Parekh’s example and received Rs 348 million in FY21, up from Rs 15.1 million in FY2020. Nandan Nilekani, a non-executive chairman independent of Infosys, voluntarily decided not to accept any compensation. In fiscal year 21, Mehta fell 21%, while the salary of Nestlé CEO Suresh Narayanan rose 6.3% in the same year.
Compared with the 161.2 million rupees in the 2020 fiscal year, Narayanan received 171 million rupees which are his annual salary for 2021. Tata Consumer Products CEO Sunil D’Souza joined the company in April 2020 with an annual salary of 104.9 million rupees compared with his predecessor Ajay Misra who was paid US$43 million in FY20.