IT major Infosys has reported a total annual remuneration of $10.7 million (which is over 50 crore rupees) to its key management personnel. Compared to previous fiscal, the salaries paid to top officials increased by 50 per cent this fiscal. The key management personnel who received fat salaaries include directors and executive council members.
One Stephen R Pratt becomes the highest paid executive for the year 2011-12 whose package was $2 million. B G Srinivas and Ashok who handled key departments in Infosys were paid $1.19 and $ 1.8 million respectively. They are now the board of members.
The other person Kamath, who became the Chairman of the board and served as an independent director was a paid over $1.25 million. Briefing the media on the compensation, Infosys said that a there’s a special committee that looks into the work and commitment of the top management and determines the eligibility to receive salary bumps. (Phani)
