Wipro chairman Rishad Premji salary increases in FY2025, but remains significantly lower than CEO Srinivas Pallia
Wipro executive chairman Rishad Permji saw his salary more than double ion FY25, reaching $1.6 million (Rs 13.7 crore). However, despite the increase in his pay, his earnings still remain significantly lower when compared to the company's CEO Srinivas Pallia, who took home $6.2 million (Rs 53.64 crore). This significant increase in the remuneration comes after a year where his compensation was notably lower. In FY24, Permji has taken a 20% pay cut and foregone his commission. After all the deductions he took home Rs 6.4 crore in FY24. This was attributed to the company's incremental consolidated net profit being negative for that fiscal year. However, this year the company reported 18.9% increase in net profit which allowed Premji's remuneration to rebound.
Wipro chairman Rishad Premji's increased salary and previous pay cut
As mentioned above, In FY24, Premji voluntarily took a 20% pay cut, earning $769,456 (Rs 6.4 crore) and forgoing his commission due to Wipro's negative net profit. However, with Wipro reporting an 18.9% rise in net profit to Rs 13,135.4 crore in FY25, his remuneration doubled. Both Premji and Pallia are entitled to a 0.35% commission on the incremental consolidated net profit of the company compared to the previous fiscal year.
Wipro CEO Srinivas Pallia's earnings and compensation
Meanwhile, Srinivas Pallia, who assumed the role of CEO and Managing Director in April 2024, received a total compensation of approximately Rs 53.64 crore ($6.2 million) in FY25. This package includes a salary and allowances of about $1.7 million, commission or variable pay of around $1.7 million, and approximately $2.8 million classified under 'others,' along with $68,850 in long-term compensation. Pallia was also granted 1,677,202 stock options with varying lock-in periods, while no stock options were granted to Premji in FY25.
It is interesting to note that Pallia's FY25 compensation is less than half of what his predecessor, Thierry Delaporte, earned in FY24, which was around Rs 168 crore ($20 million), making Delaporte one of the highest-paid CEOs in the Indian IT sector at the time.
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