Infy's last CEO hunt in 2014 was a major challenge. Download The Economic Times News App to get Daily Market Updates & Live Business News. Sikka takes home a compensation of $11 mn. It also includes Rs 6.78 crore on account of exercise of 70,772 restricted stock units during the year. After working briefly for Xerox, he founded a company called iBrain. Most of Vishal’s money comes from being a entrepreneur. This includes a base salary of $1 mn, $3 mn in variable pay, $2 mn in RSUs and another $5 mn in stock options. For reprint rights: Times Syndication Service. Infosys, in its defence on Monday, said that the increase in salary to its senior leaders is in line with global standards, and followed a comprehensive survey of best practices and benchmarked senior management compensation with key Indian and global companies. How much is Vishal Sikka worth? Infosys has long held on to the philosophy of ‘compassionate capitalism’, and recommends that the ratio between the highest salary paid by the company to any executive, and the company’s median salary, should be 50 to 60. Vishal is currently 53 years old. The reason is during last 5 yrs, Infosys is not leading the Industry in Thoughts or Results or even on Strategy. Because of their stake in the company, the Infosys co-founders had sizeable earnings during their tenures, and continued the ‘compassionate capitalism’ philosophy. Sikka, who was plucked from a top job at SAP, was the first chief appointed from outside the group of founders. Is $5 trillion GDP goal gettable for India? Former CEO Vishal Sikka, who salary had come in for criticism from Infosys founder NR Narayana Murthy, earned $6.75 million in FY17. “Good reason", in the employment contract, is defined as “Executive’s resignation within 30 days... following the occurrence of one or more of the following, without executive’s express written consent: a material reduction (with 10% reduction deemed to be material) in executive’s aggregate target compensation comprised of base pay, target variable pay and target value of stock compensation (except, where there is a substantially similar reduction applicable to senior executives generally, provided that such reduction does not exceed 10%). Infosys filed a copy of this employment agreement with the US Securities and Exchange Commission (SEC) on 18 May last year. According to filings by Infosys with stock exchanges, only 24% of promoter votes were cast in favour of the resolution seeking a 35% raise in Rao’s compensation to Rs12.5 crore. For reprint rights: Lok Sabha passes bill to cut salaries of MPs by 30 percent, Without salary since March, maths teacher in Delhi sells bags for living, Supreme Court disposes of plea seeking payment of salary to doctors, healthcare workers, Salaries paid to company directors not to attract GST: CBIC, Salary contribution by Uttarakhand MLAs to fight COVID-19 made mandatory, Emirates, Etihad extend temporary salary cuts to September. According to his employment contract, Sikka, if need be, can use a so-called “good reason" clause to terminate his existing employment agreement with Infosys, if his annual compensation of $11 million falls by more than 10%. For the latest tech news and reviews, follow Gadgets 360 on Twitter, Facebook, and Google News. Log in to our website to save your bookmarks. 48.73 crores). His birth flower is Rose and birthstone is Pearl, Moonstone and Alexandrite. Effectively, what this means is that Infosys is beholden to pay him at least $10 million if it wants to retain him as CEO. 73.4-Crore Pay Package, Asus ROG Phone 3 हुआ 3,000 रुपये सस्ता, जानें नई कीमत. It is ignoring 10 yrs experienced professionals in both USA and India who would command salaries in the north of USD 100k. This compares to the $5.08 million he was making from base and variable pay as part of his old contract. The 53-year-old Indian entrepreneur has done well thus far! This means he can earn more than $5 million factoring in all stock-based and main salary and that is nearly half of what Vishal Sikka was offered. Find Vishal Sikka Salary Latest News, Videos & Pictures on Vishal Sikka Salary and see latest updates, news, information from NDTV.COM. Going gets tough for Infosys as it battles serious challenges ranging from founders’quibbles to visa curbs and automation. A clause in Infosys CEO Vishal Sikka's contract lets him terminate his employment if his annual compensation falls by more than 10%. … This has rankled the co-founders of the company, who are said to have questioned board members’ support for this salary hike. His zodiac sign is Gemini. It'll just take a moment. Vishal Sikka is a entrepreneur from India. Prior to joining Infosys, Dr. Vishal Sikka was a member of the Executive Board of SAP AG and the Global Managing Board, leading all SAP products and innovation globally. “Every senior management person of an Indian corporation has to show self-restraint in his or her compensation. Vivo V20 लॉन्च हुआ नए अवतार में, जानें खासियतें. Vishal Sikka resigned from Infosys as MD and CEO on 18 August 2017. Vishal Sikka was born in India on Thursday, June 1, 1967. Also read: Infosys compensation row: Of executives, programmers and fairness. 48.73 crores. The firm has offered $50 million in equity for sale which has been comp... Parekh — with fixed salary of Rs 6.5 cr and variable pay of Rs 9.75 cr — gets... Sikka’s compensation included nearly Rs 3 crore of pay in lieu of notice and variable pay. 3,000, Now Starts at Rs. The $5.4 million salary would also mean that Vishal Sikka would make less in FY17 than he did in the previous financial year ($7.08 million or approximately Rs. C Vijayakumar received Rs 33.13 crore in the 2017-18 financial year, HCL Tech said in its annual report. The Times of India News App for Latest Business News, Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. Infosys, in its defence on Monday, said that the increase in salary to its senior leaders is in line with global standards, and followed a comprehensive survey of best practices and benchmarked senior management compensation with key Indian and global companies, Infosys compensation row: Of executives, programmers and fairness, Forget compassionate capitalism, just some fairness will do. Vishal Sikka ’s salary (cash component) fell by 67 per cent owing to a lower bonus payout. It faces the heat of lawmakers at both the places, its strategies must be set taking into consideration of the macroeconomic factors, policies, must be in symphony with Leaders. Why Infosys CEO Vishal Sikka’s salary fell drastically, Infosys CEO Vishal Sikka's salary has been in news. 2. Choose your reason below and click on the Report button.