HCL CEO C Vijayakumar becomes highest-paid Indian IT CEO: Here’s how much he made last year

New Delhi: IT major HCL said in its annual report that its chief executive officer C. Vijayakumar received a salary of Rs 123.13 crore ($16.52 million) in 2021 – which makes him the highest-paid CEO of an Indian software company. “Mr. C. Vijayakumar did not receive any remuneration from the Company, however, he received remuneration [Including Long-term Incentive (“LTI”)] of USD 16.52 million (equivalent Rs 123.13 crores) from HCL America Inc., a step-down wholly owned subsidiary of the Company,” the IT firm said in the annual report. 

HCL Tech said that there has been no change in his remuneration during the FY 2021-22 except for receipt of USD 12.5 million as LTI (Long-Term incentive) that is paid at fixed intervals (at the end of two years) based on the achievement of milestones/parameters fixed by the Board. (ALSO READ: Beware of Instant loan App fraud! State Bank of India shares 6 safety tips) 

“Accordingly, the payment of the above LTI is for two years that ended on March 31, 2021 viz. USD 6.25 million for FY 2019-20 and USD 6.25 million for the FY 2020-21,” the company added in its report. (ALSO READ: Ashneer Grover feels Zomato shares would be Rs 450 if…: His hypothetical situation gets mixed reactions) 

HCL CEO C Vijayakumar’s Salary Breakup

Vijayakumar received a $2 million base income each year along with an additional $2 million in variable pay. For the fiscal year that concluded on March 31, the CEO also received $0.02 million in perquisites and other benefits. According to Noida-based HCL Tech's annual report, the LTI of $12.50 million increased his overall income to $16.52 million.

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