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10 percent pay cut for Premji, Wipro`s other execs enjoy hike
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10 percent pay cut for Premji, Wipro`s other execs enjoy hike
New York: The retrenchment measures in Wipro have taken a toll on the pay packet of its chief Azim Premji, who took a 10 percent cut on his annual compensation, while the other top brass enjoyed a hike. The total remuneration paid to Premji dipped by $32,414 (Rs.14 lakh approx.) in the fiscal year 2008-09 to $2,96,142 (Rs.1.37 crore approx.).
India`s third largest IT exporter, listed at New York Stock Exchange, had paid a total remuneration of $3,28,556 to its Chairman in the previous fiscal. However, the company has paid higher remuneration to many of its other executive directors and senior management personnel in 2008-09, according to its annual report filing with the U.S. market regulator SEC. The compensation paid to the non-executive directors also increased. The pay package for executive directors like Suresh Senapaty, Pratik Kumar, Suresh Vaswani and Girish S Paranjape also rose in 2008-09.
For its non-employee directors, Wipro said, "The attendance fee was raised to Rs.20,000 per meeting with effect from August 1, 2008, from Rs.10,000 previously. Besides, the company paid a total of Rs 1.46 crore as commission to them in 2008-09, up from about Rs.86.02 lakh in the previous year."
Source:
http://www.siliconindia.com/shownews/10_percent_pay_cut_for_Premji_Wipros_other_
India`s third largest IT exporter, listed at New York Stock Exchange, had paid a total remuneration of $3,28,556 to its Chairman in the previous fiscal. However, the company has paid higher remuneration to many of its other executive directors and senior management personnel in 2008-09, according to its annual report filing with the U.S. market regulator SEC. The compensation paid to the non-executive directors also increased. The pay package for executive directors like Suresh Senapaty, Pratik Kumar, Suresh Vaswani and Girish S Paranjape also rose in 2008-09.
For its non-employee directors, Wipro said, "The attendance fee was raised to Rs.20,000 per meeting with effect from August 1, 2008, from Rs.10,000 previously. Besides, the company paid a total of Rs 1.46 crore as commission to them in 2008-09, up from about Rs.86.02 lakh in the previous year."
Source:
http://www.siliconindia.com/shownews/10_percent_pay_cut_for_Premji_Wipros_other_
