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Infosys Ltd will annually pay its new chief executive and managing director Vishal Sikka a whopping $5.08 million (around Rs.30 crore) and stock options (equity shares) equivalent to $2 million, when he joins the company August 1.
The company has convened an extraordinary general meeting (EGM) July 30 here to seek the approval of shareholders of the special resolution appointing Sikka as the CEO and MD from Aug 1, 2014 to June 13, 2019, as per the Companies Act.
"The total compensation to Sikka will include an annual base salary of $900,000 and a variable pay of $4.18 million each fiscal year," the company said in its notification to the shareholders.
In a regulatory filing to the stock exchanges Wednesday, the software major said the 47-year-old Sikka will also be on the company's board as a whole-time director from June 14, 2014 to June 13, 2019.
The company has convened an extraordinary general meeting (EGM) July 30 here to seek the approval of shareholders of the special resolution appointing Sikka as the CEO and MD from Aug 1, 2014 to June 13, 2019, as per the Companies Act.
"The total compensation to Sikka will include an annual base salary of $900,000 and a variable pay of $4.18 million each fiscal year," the company said in its notification to the shareholders.
In a regulatory filing to the stock exchanges Wednesday, the software major said the 47-year-old Sikka will also be on the company's board as a whole-time director from June 14, 2014 to June 13, 2019.