Wipro CEO pay package rises 34.5% in FY18

Wipro Chief Executive Officer Abidali Z Neemuchwala saw his pay package growing over 34% to Rs 18.23 crore during FY2017-18, compared to the previous fiscal, as per the company’s annual report.

Chief Strategy Officer Rishad Premji’s compensation also grew by more than 250% to Rs 5.8 crore in the said fiscal.

Azim Premji, the Executive Chairman and Managing Director, saw his remuneration increase 10.13% to Rs 87 lakh in FY2018.

According to the report, Neemuchwala - who was paid in US dollars - received an equivalent of Rs 6.29 crore in gross salary, Rs 1.70 crore in variable pay, Rs 10.2 crore in other annual compensation along with other perks, taking his total compensation to Rs 18.23 crore for FY2017-18.

The report said the computation of remuneration to Rishad Premji included cash based bonus (part of his variable pay) on an accrual basis, which is payable over a period of time.

Besides, Wipro CFO Jatin Dalal saw his remuneration increase by 2.42% to Rs 4.65 crore.