BENGALURU: CP Gurnani, CEO and MD of Tech Mahindra, received Rs 22 crore in salary in the last fiscal, down from Rs 33.2 crore in the fiscal before that, as per the company’s latest annual report.
Gurnani’s compensation consists of Rs 2.7 crore in salary, about Rs 9 crore in perquisites, and Rs 1.7 crore in commissions. He was also eligible for trade payables of Rs 1.8 crore. It isn't clear what the remaining component of the salary is, though it is likely to be mostly stock compensation benefits.
Part of the decline would be because the company’s top management had decided in the first quarter of last year to not take their bonus/ variable pay as part of an effort to deal with the financial impact of the pandemic. The company is in its silent period and declined to provide any details.
Infosys CEO Salil Parekh earned Rs 49 crore last fiscal, while TCS chief executive Rajesh Gopinathan’s annual salary rose by 54% to more than Rs 20 crore. Significant differences often arise from year to year on account of changes in stock vesting schedules.
