Cognizant Technology exceeded growth targets by 21% last year, and rewarded its top executives like they do in dreams

Because of a brilliant performance in 2015, Cognizant Technology Solutions has rewarded its top management with hefty bonuses and executive compensation packages. In 2015, the Nasdaq-listed software services and consulting firm grew at a roaring speed, overshadowing all its Indian rivals like Infosys and TCS.

The stellar performance met with Cognizant’s CEO Francisco D'Souza and his top team receiving 142% of their target bonuses for the year, which also led to a significant addition in their annual pay packages.

The last financial year resulted in the company exceeded its 2015 target with a 21% increase in revenue, as opposed to the Indian counterparts struggling to grow in single digits.

As per reports, Francisco D'Souza earned about $11.95 million last year, and thus became one of the highest-paid CEOs along with Vishal Sikka of Infosys, N Chandrasekaran of TCS and Abidali Neemuchwala of Wipro.

"The compensation committee set the 2015 target awards for the named executives at a level equal to 85% of the named executives' base salaries," Cognizant said in the regulatory filing.

Based on the company's results, "the committee determined that performance under the annual cash incentive programme had been achieved at a level equal to 142% of the target award," it said.

There were also some changes in the stock compensation programme for its top executives, along with a two-year performance measurement period, which would replace the existing one-year clause.


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