Thierry Delaporte Wipro’s new CEO, the leading Indian company in the information technology (IT) sector, will receive an annual salary package of 44.5 million euros (about Rs 37.9 crore). Apart from this, they will also get shares and other benefits of the company. This was revealed in a document submitted by the company to the regulators. Wipro said in a notice for the 74th Annual General Meeting (AGM) that it would seek shareholders’ approval to appoint Delporte as CEO and managing director. The AGM will be held on 13 July through video conferencing.
Thierry Delaporte Wipro’s new CEO will take over from Neemuchwala in the company. He is being appointed for five years from July 6, 2020 to July 5, 2025. Neemuchwala announced his resignation in January this year. A special proposal to appoint Deepak M Satwalekar as an independent director in the AGM will also be considered.
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Cash will be given 30 million dollars, migrant allowance also
The notice states that their remuneration will include the payment of basic salary at the rate of 10.7 to 14 lakh euro per year and variable salary at the rate of 17 to 25 lakh euro per year. They will also receive a migrant allowance in the range of 428,000 to 550,000 euros for work outside France and India. In addition, he will also receive a one-time cash payment of $ 3 million. They will get this cash payment in two installments. In the first installment, $ 1.5 million will be paid on 31 July 2020 and the second installment will be paid on 31 July 2021.
Abidali Neemuchwala’s salary was Rs 32.2 crores
Delporte will also receive restriction shares of the company in the form of an annual share grant and a one-time share grant. DelPorte has previously been an executive officer of Capgemini. The annual report of Wipro stated that its outgoing CEO Abidali Neemuchwala received a remuneration of Rs 32.2 crore in FY 2019-20. This included about 7.6 crores in salary, about 9.1 crores of commission / incentive / variable pay, about 15.4 crores of other annual payments and 3.39 lakh rupees of retirement.