BENGALURU: K Krithivasan, who took charge as the CEO and MD of Tata Consultancy Services (TCS) on June 1, 2023, took home about Rs 25.36 crore salary in FY24. His remuneration includes compensation for the full year as global head of BFSI for April 1, 2023, to May 31, 2023, and as CEO and MD from June 1, 2023, according to the company’s FY24 annual report.
Krithivasan’s package in FY24 was lower than that of former CEO and MD Rajesh Gopinathan as he received Rs 29.16 crore in FY23. Infosys CEO Salil Parekh drew a salary of Rs 56.44 crore in FY23. Recently in a regulatory filing, Wipro said its newly appointed CEO and MD Srinivas Pallia will receive an annual compensation in the range of Rs 37 crore to over Rs 58 crore.
TCS COO and executive director N Ganapathy Subramaniam, who retires this month, received Rs 26.18 crore salary in FY24, about 8.2% rise from the previous year. His ratio to the median remuneration stood at 346.2. The percentage rise in the median remuneration of employees in FY24 is 10.8%.
Its 29th annual general meeting will be held on May 31 and in his letter to shareholders chairman N Chandrasekaran said, “GenAI technologies will impact almost every sector and country, going forward. Enterprises have already invested in cloud, data infrastructure and large processing power which will aid AI/ GenAI.” He added that Gen AI will not only improve productivity, but also create impact we hitherto have not seen or imagined.
TCS CEO said looking forward, they are seeing greater opportunities ahead, as businesses become more technology-intensive and depend on technology to drive competitive differentiation and transform their industries. He added, “Today, clients are seeing cloud as a strategy for business transformation and growth. The shift to cloud-native products and platforms is being fast-tracked, to achieve increased collaboration, security, scalability and efficiency. .”