Wipro Offers up to 10 Crore Package to New CEO

In a filing evidence to BSE, Wipro Technologies unconcealed that it was remunerative a remuneration of 10 Crore to its fresh settled CEO, T K Kurien. He has transform one of the highest-paid executives at an Amerind IT firmly. The company revealed Kurien's period salary, including inconstant pay and periodical increments. He was prescribed as the CEO and IT concern of Wipro technologies on Feb 1 for a period of quintuplet geezerhood.

Kurien has been decreed to get the IT concern punt on ontogenesis for the associate. The remuneration for Kurien ranges from 3 Crore to 10 Crore per annum. His salary present countenance oscillating increments which instrument be approved by the timber based on execution ideal.

In gain to this, Kurien also be entitled to revel perquisites and separate allowances, including employee stalk options, aid of unfree render units and else stock-based compensation. Kurien's salary beats the salary drawing of all new CEO's in the IT aspect. Kurien's salary is straight higher than Cognizant's CEO Francisco D'Souza. For 2010, D'Souza received a salary of $539,100 (around Rs 2.4 Crore) and payment of $816,968 (around Rs 3.67 Crore). For 2011, D'Souza testament attractor a salary of $566,500 (around Rs 2.54 Crore). Tata Consultancy Services, CEO and MD N Chandrasekaran conventional 3 Crore for the business gathering 2009-2010. This included salary of Rs 46.7 lakh, perks allowance of Rs 51.12 lakh and empowerment of Rs 2 crore. Infosys CEO and MD S Gopalakrishnan received Rs 1.01 Crore during the business 2009-10, says the affiliate's yearbook interrogatory. The only new CEO that comes nearest to what Kurien or D'Souza earns is HCL Technologies CEO Vineet Nayar. For the period ended June 2010, Nayar's rectification

Suresh Vaswani and Girish Paranjpe, the {erstwhile CEO's of Wipro, actor Rs 3.1 Crore and Rs 2 Crore in the 20-010, respectively. In Feb this twelvemonth, Wipro decreed Kurien to direction Wipro's IT commercialism after textile cooperative CEOs - Girish Paranjpe and Suresh Vaswani and activity the cigarette CEO system. While denotative Kurien as the new CEO, Wipro Chair Azim Premji said the militia was effort rearmost to the uninominal CEO structure as it wanted a leaner and much underspent stable.