Former Infosys CEO Vishal Sikka earned about Rs 13 crore in FY18

Former Infosys CEO Vishal Sikka earned about Rs 13 crore in FY18, including amounts received in lieu of notice, and other top Infosys executives saw massive pay rises in the last financial year.
Sikka’s compensation included nearly Rs 3 crore of pay in lieu of notice and variable pay. It also includes Rs 6.78 crore on account of exercise of 70,772 restricted stock units during the year. His compensation was Rs 16.01 crore in FY17.

Infosys chief operating officer UB Pravin Rao received a 5% hike to Rs 8.22 crore. His hike was the least among the company’s key managerial personnel.

Chief Financial Officer MD Ranganath received 68% hike over his FY17 salary. Ranganath’s compensation rose to Rs 7.98 crore in FY8. Infosys President Mohit Joshi saw his pay rise 52% to Rs 10.31 crore. President and Deputy Chief Operating Officer Ravi Kumar S earned Rs 9.54 crore, up 36% of the previous year.

About 29 Infosys employees, excluding key managerial personnel, received compensation over Rs 1.02 crore in FY18, down from 37 the previous year.

Interestingly, Infosys director Roopa Kudva’s compensation dropped Rs 97 lakhs from the previous year. Kudva had come in for strong criticism by the company’s founder NR Narayana Murthy with regard to the company’s corporate governance.