Former Tata Consultancy Services CEO Rajesh Gopinathan earned Rs 29.16 crore in FY23, up 13.17% over FY22, the company stated in its annual report. His compensation rose 26.6% in FY22. Gopinathan was the fifth-highest-paid CEO within the Indian IT services sector earning a compensation of Rs 25.75 crore. His basic salary for the year was Rs 1.7 crore. Gopinathan will remain with the company till September 16 in an advisory role. TCS is India’s largest IT company both by market capitalisation as well as revenue.
Earlier this month, K Krithivasan took over as the TCS CEO. An IIT-Kanpur alumnus, 58-year-old Krithivasan is a TCS veteran, having been with the company for 30-plus years. He was previously president and global head of banking, financial services and insurance (BFSI) vertical that accounts for nearly a third of the company’s revenue. The IT services company has said that its new CEO, K Krithivasan, will have a basic salary of Rs 10 lakh per month, which can go up to Rs 16 lakh, plus other benefits. The company’s COO NG Subramaniam earned a total compensation of Rs 23.59 crore during the fiscal year 2023, up 14% through the year. It had grown 18% in FY22.
Gopinathan, 52, has been with TCS for 22 years. He was elevated from the role of chief financial officer to CEO in February 2017 after his predecessor N Chandrasekaran was appointed as chairman of Tata Sons. In March 2022, Gopinathan was reappointed for a period of five years ending February 2027.
Rival Infosys‘ CEO salary dropped in FY2023
Rival Infosys CEO Salil Parekh’s compensation dropped 29.3% to Rs 56.4 crore in the 2022-23 financial year, after a massive 88% jump to Rs 79.8 crore in the year before that. His remuneration included Rs 30.6 crore due to RSUs (restricted stock units). Infosys’ outgoing president Mohit Joshi’s compensation rose 64.6% to Rs 57.3 crore, up from Rs 34.8 crore in the previous year. Joshi resigned from the company earlier this year.
Earlier this month, K Krithivasan took over as the TCS CEO. An IIT-Kanpur alumnus, 58-year-old Krithivasan is a TCS veteran, having been with the company for 30-plus years. He was previously president and global head of banking, financial services and insurance (BFSI) vertical that accounts for nearly a third of the company’s revenue. The IT services company has said that its new CEO, K Krithivasan, will have a basic salary of Rs 10 lakh per month, which can go up to Rs 16 lakh, plus other benefits. The company’s COO NG Subramaniam earned a total compensation of Rs 23.59 crore during the fiscal year 2023, up 14% through the year. It had grown 18% in FY22.
Gopinathan, 52, has been with TCS for 22 years. He was elevated from the role of chief financial officer to CEO in February 2017 after his predecessor N Chandrasekaran was appointed as chairman of Tata Sons. In March 2022, Gopinathan was reappointed for a period of five years ending February 2027.
Rival Infosys‘ CEO salary dropped in FY2023
Rival Infosys CEO Salil Parekh’s compensation dropped 29.3% to Rs 56.4 crore in the 2022-23 financial year, after a massive 88% jump to Rs 79.8 crore in the year before that. His remuneration included Rs 30.6 crore due to RSUs (restricted stock units). Infosys’ outgoing president Mohit Joshi’s compensation rose 64.6% to Rs 57.3 crore, up from Rs 34.8 crore in the previous year. Joshi resigned from the company earlier this year.
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