HCL's C Vijayakumar Was India's Highest Paid IT Chief Last Financial Year
C Vijayakumar (Chairman of HCL Technologies Ltd) was India’s highest-paid top executive with an annual total of $16.52million (Rs. 133.18.0 crore). The salary he received was $4.13million.
Mr Vijayakumar was the Chief Executive Officer of HCL America Inc., but he did not receive any compensation from the company. However, he received $4.13 million (equivalent to Rs 30.60 crores) as remuneration from HCL America Inc., a wholly-owned step-down subsidiary of the company, during the financial year 2020-21,” according to the company’s annual report.
Vijayakumar earned $2million as a base salary, $2million in variable pay, $0.02 million in perquisites and other benefits during the previous financial year. But, his FY 2021-22 salary remained the same.
According to the report, LTI payments are made every two years based on the achievement of milestones set by the board. Sixty-five million dollars was spent on FY 2019-20, and FY2020-21 to pay LTI for the two financial years ending March 31, 2021.