Infosys’ new chief executive officer, Vishal Sikka, will be the highest paid CEO in the Indian IT industry with $5.08 million annual salary besides a stock option of $2 million. Sikka, 47, will replace SD Shibulal and take charge on August 1.
Infosys said in a circular that he would have an annual base salary of $900,000 and an annual variable pay of $4.18 million and will be eligible to receive stock option of $2 million, making his total package including stock options $7.08 million (Rs 42.1 crore).
Outgoing CEO Shibulal drew a salary of $ 26,000 (Rs 15.48 lakh). However, dividend from his stock option was worth $13 million (Rs 77.4 crore) last year.
Sikka’s salary at Infosys still pales in comparison with global majors. The Microsoft CEO gets $18 million a year and IBM $ 16.2 million.
At SAP, Sikka had an annual salary of 4.23 million euro (Rs 34.2 crore).