Wipro CEO Abid Ali Neemuchwala's salary revealed

BENGALURU: Wipro CEO Abid Ali Neemuchwala will be getting a compensation in the range of $1.3 million and $2.19 million, excluding stock-based compensation and other perks and benefits.

Neemuchwala, who took over as the CEO of the $7.5-billion company on February 1, will receive a base pay in the range of $800,004 and $1.2 million and a target variable pay between $500,004 and $999,996 annually , according to filings with the Registrar of Companies.


Neemuchwala, who is based in Dallas, US, has also been granted restricted stock units, employee stock options and other stock-based compensation that's decided by the Board based on the recommendation of the nomination and compensation committee. The details of the stock compensation has not been disclosed, and without that, a proper comparison with peers is difficult.

Rival Infosys recently increased CEO Vishal Sikka's salary to an overall $11 million, from $7.08 million previously. The new salary includes a base salary of $1 million, $3 million in variable pay, $2 million in restricted stock units and another $5 million in stock options that would be awarded to him based on the company's performance. Cognizant's CEO Francisco D'Souza, who is based in the US, took home a package of $11.3 million and TCS CEO N Chandrasekaran, who is based in India, received Rs 21.28 crore (about $3 million) last year.


Wipro's executive vice chairman T K Kurien is getting a package of Rs 8.46 crore that includes a basket of allowances and reimbursements under the Wipro Benefits Plans & Allowances and target variable pay and other retirement benefits. But the package excludes stock compensation and other benefits. Kurien's term came into effect on February 1.

The compensation of Indian CEOs has been increasingly based on global benchmarking. This is seen to be more so in sectors such as technology, hospitality and aviation that are more international than others.