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Infosys CEO Vishal Sikka has drawn a salary that is 11 times more in the 2016 fiscal, when compared to what he took home in 2015 fiscal.
According to Infosys annual report, Sikka drew a salary of ₹ 48.73 crore ($7.45 million) compared to ₹4.56 crore in the 2015 fiscal.
Sikka’s salary included basic pay of $906,923; $6.48 million in bonus and incentives and $51,198 as long term benefits, according to the annual report. Additionally during fiscal 2016, Sikka was granted restricted stock units, which were valued at $2 million on date of granting the stock options. Sikka's salary compares to that of CEO Francisco D'Souza, who in 2011, took home a pay of $11.76 million.
This comes on the back of Sikka getting an extension of another two years (till March 2021), which was approved by the Board recently due to stellar performance by India's second largest exporter in the last several quarters. Infosys signed large deals worth $2.8 billion in FY2016, up from $1.9 billion in FY2015.
According to the revised pay structure, Sikka will get an annual base salary of $1 million, $3 million in variable pay and $7 million in stock compensation.
The 2016 fiscal also saw chief operating officer UB Pravin Rao drew $1.39 million, which included salary, long term benefits, earnings from stock options and bonus incentives. In 2015 financial year, Rao's remuneration was ₹6.08 crore.
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