Explained Snippets | Stocks & salary: What the CEOs of top IT firms were paid

Here is a look at the salary and stock options received by the CEOs of four of the country’s top five IT companies in FY18.

By: Express News Service | New Delhi | Updated: July 11, 2018 9:06:53 am
indian stock market, BSE sensex, IT companies in stock market, top five IT CEOs india, HCL CEO salary, indian expres HCL Technologies, the third largest IT company by market capitalisation, is yet to publish its annual report for the year 2017-18.

Promoters of major Indian companies are known to hold a sizeable amount in shares of these companies, and some of the professionals occupying top positions of major IT companies receive a large chunk of their salaries in stock options. Here is a look at the salary and stock options received by the CEOs of four of the country’s top five IT companies in FY18:

C P Gurnani, CEO of Tech Mahindra, received stock options worth Rs 142.30 crore besides salary and perquisites amounting to Rs 3.89 crore in 2017-18. In fact, Gurnani was offered 30 lakh shares during the year and the current value of those stocks stands at Rs 195 crore. In aggregate, Gurnani holds 80.58 lakh shares of the company, which are worth Rs 523 crore at Tuesday’s closing price. Gurnani comes on top among the IT CEOs.

*Restricted stock units received in February; current value Rs 14.70 crore

Abidali Z Neemuchwala, CEO of Wipro, received stock options worth Rs 10.20 crore during the year. This was besides salary and perquisites of Rs 8.03 crore.

Salil Parekh, who has been CEO of Infosys since January 2, 2018, has received a salary of Rs 3.98 crore during the year as well as 1,13,024 restricted stock units (shares received as incentive or reward with a vesting period). Parekh was offered all these RSUs in February 2018; at the current market price, they are valued at Rs 14.70 crore.

Rajesh Gopinathan, CEO of TCS, received a salary of Rs 12.49 crore during the year.

HCL Technologies, the third largest IT company by market capitalisation, is yet to publish its annual report for the year 2017-18. —Sandeep Singh

***

Where homosexuality is legal, where a crime

Source for text and map: International Lesbian, Gay, Bisexual, Trans and Intersex Association annual report, 2017

India is one of 72 countries in which homosexuality is a criminal offence, according to an international count last updated in October 2017. Section 377 of the IPC, now the subject of a clutch of petitions challenging it in the Supreme Court, provides for life imprisonment as maximum punishment.

Eight countries provide for the death sentence, while five more countries technically have that provision — under interpretation of the Sharia — but are not known to have invoked the provision, according to a map and report by ILGA (International Lesbian, Gay, Bisexual, Trans and Intersex Association), a worldwide federation of 1,200 member organisations from 132 countries.

***

Tip for Reading List: When Football Paid £15 A Week

Until 1961, English professional footballers were paid within a cap. In 1956, when the great Bobby Charlton began playing for Manchester United, the maximum payment was £15; by 1961, this had risen to £20 a week, before the cap was finally lifted. In contrast, contemporary footballer Gareth Bale is estimated to be paid between £300,000 and £600,000 a week — accounts vary — which meant that Bale’s weekly pay packet is about 20,000 times more than Charlton was entitled to in 1956, columnist Roger Alton notes in The Spectator, while reviewing a book that reflects on the days of the wage cap.

When Footballers Were Skint, by journalist Jon Henderson, includes first-hand accounts of a generation of footballers who played long before television rights ushered in the age of the multimillionaire footballer. Henderson spent four years interviewing former players, many of whom are now in their 80s and whose stories were in danger of being forgotten, The Guardian says in its review. “This was a time when the men who played for the great football clubs of Britain shared a bond of borderline penury with the fans they entertained. It was almost routine for players to travel to matches on the same public transport as the fans and, after the game, to return to homes that were as modest as those in which their supporters lived,” is how Amazon promotes the book. The book describes a strong bond between players and fans, and quotes footballer Alec Jackson: “They weren’t supporters in those days, they were family.” “I doubt you’d find anyone saying that now. Certainly not Gareth Bale,” Alton writes in his column.

***

This Word Means: Externment

Why, and how, do police ask someone to leave an area?

On Monday, Telangana police “externed” Telugu film critic Kathi Mahesh from Hyderabad for six months on charges of “vitiating” the atmosphere after he had expressed “controversial” views on the Ramayana during a TV show. Externment is a procedure followed by the police of asking a person to leave a particular area for a particular period, if they deem his presence in that area as a threat to peace and law and order. The period can be between three months and two years. It is called thadipaar in Hindi, a word that gained some currency in popular culture in the 1980s when it was used in the Hindi film Tezaab, in which a court banishes the hero from a particular area for violence. Police in different states use different laws to extern a person but the most used ones are Prevention of Anti-Social and Disruptive Activities Act or Preventive Detention Act and the Goonda Act, which have been modified and amended by various states according to their requirements. In the film critic’s case, Telangana police externed him using their powers under the Prevention of Anti-Social and Disruptive Activities Act. When deciding whether to extern an individual, police evaluate how the presence of a frequent offender or a person who is causing trouble will affect law and order or disturb peace and harmony in the area, and use various sections in the Acts. It is often used against bootleggers, chain snatchers, dacoits, habitual housebreakers etc. —Sreenivas Janyala

For all the latest Explained News, download Indian Express App

Advertisement
Advertisement
Advertisement
Advertisement