TCS CEO Krithivasan takes home Rs 25.36 cr in FY24
MUMBAI: K Krithivasan, the newly appointed chief executive officer and managing director of TCS, took home a pay of over Rs 25 cr in FY24, it said on Thursday.
Krithivasan took charge as the head of the country’s largest IT services exporter in June 2023, after the surprising exit of Rajesh Gopinathan. His appointment is for a period of five years.
As per the company’s annual report, Krithivasan earned a salary of Rs 1.27 crore, with benefits, perquisites and allowances of Rs 3.08 crore and bagged a commission of Rs 21 crore during the fiscal year.
The earnings include his compensation as the global head of the largest vertical of banking, financial services and insurance at TCS, it said.
Interestingly, the chief operating officer of the company, NG Subramaniam earned Rs 26.18 crore during the financial year.
Subramaniam, who is due to retire from the company soon, was in the role for the entire year and his emoluments included a salary of Rs 1.72 crore; Rs 3.45 crore in benefits, perquisites and allowances, and Rs 21 crore in commission.
The COO’s remuneration increased by 8.2 per cent, the company said, adding that the increase in Krithivasan’s earnings cannot be compared because of the change in the designation.
For his two months of service as CEO Gopinathan earned Rs 33.6 lakh in salary and Rs 76.8 lakh in benefits, perquisites and allowances, the annual report said.
The COO’s remuneration is 346.2 times the median remuneration of its employees, which stood at Rs 6,01,546 as of March 31, 2024.
The average annual increase was in the range of 5.5-8 per cent, with top performers receiving double-digit increments in India, the report said.
Women constituted 35.6 per cent of the workforce at the end of the fiscal, the company added.
The company, which was among the first ones in the sector to nudge employees to shift back to working from offices, has approximately 55 per cent of its employees working from the office on all working days of the week.