Latest news with #SrinivasPallia
India.com
27-05-2025
- Business
- India.com
Azim Premji's son, Rishad Premji's salary doubled to Rs 130000000, still lesser than Wipro's…, who earns Rs…
Wipro Executive Chairman Rishad Premji's remuneration more than doubled to USD 1.6 million (around Rs 13.7 crore) in the fiscal year ending March 31, 2025. However, it is still lower than the earnings of company CEO Srinivas Pallia, who received USD 6.2 million (around Rs 53.64 crore), as per the company's latest annual report. Premji, in the fiscal year 2023-24, did not take any commission since the company's incremental consolidated net profit for the year was negative, and took a pay cut of about 20 per cent with a salary of USD 769,456 (about Rs 6.4 crore). However, during the 2024-25 fiscal year, with the Bengaluru-headquartered firm reporting an 18.9 per cent rise in net profit to Rs 13,135.4 crore, Premji's remuneration more than doubled to USD 1.6 million (about Rs 13.7 crore) in FY25, from USD 769,456 (about Rs 6.4 crore) in FY24, Wipro's 20-F filings with the US Securities and Exchange Commission showed. Srinivas Pallia, who assumed the role of CEO and Managing Director on April 7, 2024, received a total compensation of USD 6.2 million (about Rs 53.64 crore) in FY25. Pallia's takeaway is less than half that of Wipro's former CEO Thierry Delaporte, who drew a salary of USD 20 million (about Rs 168 crore) in FY24. The document showed that Pallia earned about USD 1.7 million in salary and allowances, about USD 1.7 million as commission/variable pay, about USD 2.8 million classified as 'others', and USD 68,850 as long-term compensation. Rishad Premji and Srinivas Pallia are entitled to a commission at the rate of 0.35 per cent on incremental consolidated net profits of the company over the previous fiscal year, the filing said. Further, Pallia was granted 16,77,202 stock options for varying lock-in periods. There were no stock options granted to Premji in FY25. (With Inputs From PTI)
Time of India
26-05-2025
- Business
- Time of India
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. AI Masterclass for Students. Upskill Young Ones Today!– Join Now
United News of India
24-05-2025
- Business
- United News of India
Wipro CEO earned more than Premji in FY25
Bengaluru, May 24 (UNI) Wipro Ltd has revealed that Chief Executive Officer and Managing Director Srinivas Pallia earned nearly four times more than Executive Chairman Rishad A Premji in the financial year 2024-25, with a total annual compensation of USD 6.28 million, compared to Premji's USD 1.61 million. According to the company's disclosure, Pallia received USD 1.70 million each as salary and variable pay, over USD 2.80 million under other components, and USD 68,850 in long-term deferred benefits, including stock units. Premji, on the other hand, drew USD 707,521 in salary, USD 824,233 as variable pay, and USD 77,123 in deferred benefits. Both executives are entitled to a commission of 0.35 per cent on the company's incremental consolidated net profits over the previous fiscal. The executive compensation structure at Wipro includes a fixed base salary and a variable performance-linked incentive under the Variable Pay Scheme, which applies across all levels. Long-term incentives such as time-based Restricted Stock Units (RSUs) and performance-based Stock Units (PSUs) are also granted, typically vesting over multiple years. Chief Financial Officer Aparna C. Iyer's total compensation stood at USD 846,735 for the year, which includes USD 219,943 in salary, USD 136,770 in variable pay, and USD 450,371 under other components. The company clarified that deferred benefits consist of contributions to Provident Fund, Pension Fund, and other statutory social security schemes, and are based on accumulated balances rather than final pay. Wipro further stated that no stock options were granted to Rishad Premji in FY25. Former CEO Thierry Delaporte, who stepped down on April 6, 2024, and was formally relieved on May 31, 2024, had his compensation for the transition period disclosed in the company's earlier filing. UNI BDN BM
Deccan Herald
23-05-2025
- Business
- Deccan Herald
Rishad Premji's pay doubles; still no match to that of Wipro CEO
Bengaluru: Wipro Ltd Executive Chairperson Rishad Premji's remuneration more than doubled to $1.6 million, however was much lesser than company Chief Executive Officer (CEO) Srinivas Pallia's earnings of $6.2 million in the financial year 2025 (FY25), according to the company's latest annual report. Pallia was appointed the CEO last year in April after Thierry Delaporte's Thierry Delaporte's compensation was much higher than Pallia's in FY25. Delaporte's FY24 salary was $20 million, one of the highest paid CEOs in India's IT industry. .Goldman Sachs' Sandeep Dhar to helm Wipro's GCC Premji and Srinivas Pallia are also entitled to a commission at the rate of 0.35% on incremental consolidated net profits of the company over the previous fiscal FY24, Premji had voluntarily taken a 20% pay cut and foregone his commission due to a dip in consolidated profits. He earned a total of $769,456 million that year. The turnaround in FY25 — driven by an 18.9% rise in net profit to Rs 13,135.4 crore allowed him to collect a higher payout, although he received no stock options for the year.
New Indian Express
23-05-2025
- Business
- New Indian Express
Wipro CEO Pallia took home Rs 53.4 crore in FY25; Executive Chairman Rishad Premji's pay doubled
BENGALURU: Wipro CEO and MD Srinivas Pallia, who assumed the role in April last year, took home about Rs 53.4 crore ($6.27 million) in FY25, according to the IT services firm's latest 20-F filing with the US Securities and Exchange Commission. Interestingly, Wipro Executive Chairman Rishad Premji's remuneration more than doubled from Rs 6.4 crore in FY24 to about Rs 13.7 crore ($1.6 million) in FY25, due to the increase in the company's net profit. In FY24, Rishad Premji did not take any variable pay. He was entitled to a commission at the rate of 0.35% on incremental consolidated net profits of the company over the previous fiscal year. "However, in light of the fact that the incremental consolidated net profits for fiscal year 2024 was negative, the company determined that no commission was payable for fiscal year 2024 to Premji," the company had said in its FY24 annual report. In FY24, Wipro's former CEO Thierry Delaporte took home about Rs 166 crore, which made him the highest-paid CEO of the Indian IT sector. There were no stock options granted to Rishad Premji in fiscal year 2025.
