Wipro’s Executive chairman Rishad Premji takes voluntary pay cut this year
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New Delhi: While salary cut is omnipresent for employees, the Executive Chairman of Wipro, Rishad Premji, has voluntarily cut his salary for the fiscal year 2023.
A recent filing to the Securities and Exchange Commission in the US shows he made $951,353 in total annual compensation this year.
The amount according to NDTV is almost 50% less than his earnings in the previous fiscal.
In 2022, Premji took home $1,819,022 as Executive Chairman of the Board.
The Form 20-F submitted by Wipro Limited to United States Securities and Exchange Commission showed $861,620 in salary and allowances and $74,343 in long-term compensation benefits plus $15,390 in other incomes.
Premji will continue his current term as Executive Chairman of Wipro Limited until July 30, 2024.
Starting his stint at Wipro in 2007, Premji rose in ranks to become Executive Chairman in 2019.
He was in roles including a general manager in Wipro's Banking and Financial Services business and headed Investor Relations and Wipro's Strategy and M&A, according to the report.
Before joining Wipro, Premji was working with Bain & Company in London.