Salaries of Infosys’ top executives take a hit. This is how much the COO will earn now

Indian IT firm Infosys just revised the pay structure of its key executives and the salaries of the top leadership is bound to take a hit.

After the revision, Infosys COO Pravin Rao's take-home pay could hit Rs 8 crore and even Chief Financial Officer M D Ranganath’s salary will be hit.

"The Board of Directors have approved the revised annual compensation of Pravin Rao...with effect from November 1, 2016, subject to the approval of the shareholders. The compensation includes fixed compensation of Rs 4.62 crore per annum and a variable compensation of up to Rs 3.88 crore per annum," Infosys said.

Additionally, based on fiscal 2016 performance, Rao will get 27,250 restricted stock units (RSU) and 43,000 stock options, vested over a period of four years.

Infosys stated the revised aggregate compensation of Mohit Joshi (Head of the Financial Services), Sandeep Dadlani (Head of Americas), Rajesh K Murthy (Head of Europe), Ravikumar S (Chief Delivery Officer), David Kennedy (Chief Compliance Officer), Krishnamurthy Shankar (Group Head of Human Resource Development) and Manikantha AGS (Company Secretary) includes fixed compensation of Rs 24 crore and variable compensation of up to Rs 20 crore.

Meanwhile, Infosys inducted founder and CEO of Surya Software Systems D N Prahlad as an independent director on its Board.

Infosys Chairman R Seshasayee said, "We are delighted to welcome Prahlad, a distinguished technologist to the Board. Prahlad brings with him, not only his deep knowledge of the company, but also sharp insights into the industry.”