Millennium Post

Infosys management salary exceeds $10 mn

IT giant Infosys paid its top management personnel a total remuneration of $10.7 million (over Rs 50 crore) during the last fiscal, marking an increase of about 50 per cent from the previous year.

The remuneration paid to its key management personnel, which includes directors and executive council members, had remained almost unchanged at about $7 million for fiscals 2009-10 and 2010-11, as per an annual regulatory filing by the US-listed Infosys with the US market regulator SEC.

But it rose sharply in 2011-12 despite a fall in the individual pay packages of some top executives, including its executive co-chairman S Gopalakrishnan, CEO S D Shibulal and CFO V Balakrishnan.

The top paid executive, as per Infosys’ filing, was Stephen R Pratt, an executive council member, with a total package of about $2 million.

Among others, B G Srinivas was paid $1.19 million, while Ashok Vemuri got $1.18 million. Both of them have held various leadership positions at Infosys in the past and joined its board last year. The total package of Shibulal was $162,990 in 2011-12, down by about $80,000 from the previous year, while that of Gopalakrishnan fell by $85,000 to $164,543. Compensation paid to its independent chairman K V Kamath rose from $ 125,600 to $205,000.

N R Narayana Murthy, who retired from the board in August last year, was paid $67,100, down from $137,500 in the previous fiscal.
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