BENGALURU: Wipro chief executive Thierry Delaporte was paid $8.8 million in compensation last fiscal, making him the costliest foreign executive ever to be hired by an Indian IT services company, as per the company’s latest filing with the US market regulator.
Delaporte got $1.3 million in salary and allowances, $1.5 million in variable pay, other income of $5.2 million and about $760,000 in long term compensation.
The compensation is for the period from July 6 to March 31.
His predecessor Abidali Neemuchwala earned $4.4 million in 2019-20.
TOI reported last year that Delaporte, who was formerly with Capgemini, could turn out to be the most highly paid executive as he was paid in euros, whose exchange rate with the rupee compared to the US dollar has always been high.
Delaporte, in his last role as the chief operating officer of Capgemini, was paid about $4.9 million in 2019, which included $1.9 million in fixed and variables and the rest through share grants.
Chairman Rishad Premji also took home $1.6 million in total package, which was more than double compared to 2019, because of the variable pay which he had foregone that time to show solidarity with employees whose salaries were frozen due to the pandemic.
The junior Premji’s salary comprised about $800,000 in salary and allowances, $760,000 in commission, other payment of $2,334 and long term compensation of $52,791.
“Rishad Premji is entitled to a commission at the rate of 0.35% on incremental consolidated net profits of Wipro Ltd for fiscal year 2021 over the previous year,” the 20-F filing said.
As of March 31, Wipro had more than 200,000 employees with 41,000 located outside India.
“The Covid-19 pandemic continues to evolve as countries are facing new waves of outbreaks.
The ultimate extent to which the pandemic impacts our business, liquidity, results of operations and financial condition will depend on future developments, which are highly uncertain and cannot be predicted at this time,” the company said.