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.
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