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HCL’s C Vijayakumar India’s highest paid tech CEO, earned 123 cr in 2021: Report
According to HCL's annual report which was released over the weekend, Vijayakumar’s annual base salary totalled $2 million and he had taken $2 million in variable pay and $0.02 million in perquisites and other benefits for the year ended 31 March.
C. Vijayakumar, the chief executive officer (CEO) of tech giant HCL Technologies Limited earned ₹123.13 crore ($16.52 million) last year, which makes him the highest-paid among India's software companies, Livemint said in a report on Monday.
According to HCL's annual report which was released over the weekend, Vijayakumar’s annual base salary totalled $2 million and he had taken $2 million in variable pay and $0.02 million in perquisites and other benefits for the year ended 31 March.
“There has been no change in his remuneration during the FY 2021-22 except for receipt of USD 12.5 million as LTI (Long-Term incentive) that is paid at fixed intervals (at the end of two years) based on the achievement of milestones / parameters fixed by the Board," the tech giant said in its annual report.
“Accordingly, the payment of above LTI is for two years that ended on March 31, 2021 viz. USD 6.25 million for FY 2019-20 & USD 6.25 million for the FY 2020-21," it added.
If the $6.25 million LTI earned for the year ended March 2020 is stripped from C. Vijayakumar’s compensation, his remuneration of $10.27 million would be a shade less than the $10.5 million earned by Wipro Ltd’s CEO Thierry Delaporte, Livemint further reported.
Vijayakumar has been HCL's CEO since 2016 but was not a part of the company's 12-member board. However, when HCL founder Shiv Nadar stepped down in 2021, it made way for Vijayakumar to become the company's managing director.
