TCS CEO's salary cut 16% to 13 crore
Mumbai: Pay package of Tata Consultancy Services CEO and MD Rajesh Gopinathan shrank more than 16 per cent to Rs 13.3 crore in 2019-20 compared to the ...
Mumbai: Pay package of Tata Consultancy Services CEO and MD Rajesh Gopinathan shrank more than 16 per cent to Rs 13.3 crore in 2019-20 compared to the previous fiscal, according to the company's annual report.
In 2018-19, Gopinathan had received a total remuneration of Rs 16.02 crore. According to TCS' annual report for 2019-20, Gopinathan received Rs 1.35 crore in salary, Rs 1.29 crore in perquisites, Rs 10 crore in commission (at 0.02 per cent of profit) and Rs 72.82 lakh in allowances.
In the previous year, Gopinathan had received Rs 1.15 crore in salary, Rs 1.26 crore in perquisites and Rs 60.35 lakh in allowances. However, he had drawn a higher commission of Rs 13 crore in 2018-19 at 0.03 per cent of profit.
"The managerial remuneration for the year decreased by 15 per cent. The executive remuneration for FY2020 is lower than FY2019 in view of the economic conditions impacted by the Covid-19 pandemic. The Directors have decided to moderate the executive remuneration for this year to express solidarity and conserve resources," the annual report said.
TCS COO N Ganapathy Subramaniam also took home a smaller pay package in FY2020. His earnings declined by 12.9 per cent to Rs 10.11 crore in 2019-20 on account of lower commission as compared to Rs 11.61 crore in the previous fiscal.