Tuesday, March 22, 2011

Wipro's CEO Gets Rs 10cr Salary Package

T K Kurien, the fresh arch of the IT business and CEO of Wipro, will get an anniversary bacon amalgamation of up to Rs 10 crore .

As per the acceding of arrangement of Kurien, bacon is in the ambit of minimum of Rs 3 crore to a best of Rs 10 crore a year, Wipro said in a filing to the Bombay Stock Exchange.

This would accommodate alternate increments, capricious pay (based on achievement criteria), leave biking allowance, abode hire allowance, aggregation provided car and driver, appliance and accessories and provident armamentarium amid others.

Kurien''s is one of the accomplished bacon bales in the IT industry.

According to TCS'' Anniversary Address 2009-10, aggregation CEO and Managing Director S Ramadorai accustomed Rs 3.61 crore in salary, allowances and allowances and agency for the aeon amid April 1, 2009 and October 5, 2009.

Infosys CEO and MD S Gopalakrishnan accustomed Rs 1.01 crore during the budgetary 2009-10, says the company''s anniversary report.

Kurien will get 12 months bacon as severance allowances in case his casework are terminated. This account will be affected on the base on the aftermost fatigued bacon afore the termination.

"If the aggregation terminates the agreement, the aggregation will acquaint the aforementioned in autograph to the CEO and the CEO will be acceptable for severance allowances as follows: 12 months aftermost fatigued salary," the filing said.

Salary for this purpose includes basal pay, allowances and allowances and capricious pay, it added.

In January this year, Wipro appointed Kurien to advance Wipro''s IT business afterwards burglary collective CEOs -- Girish Paranjpe and Suresh Vaswani and dismantling the collective CEO system.

While allotment Kurien as the fresh CEO, Wipro Chairman Azim Premji said the aggregation was activity aback to the distinct CEO anatomy as it capital a bacteria and added able firm. PTI SR SKB


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