Thierry Delaporte, the former CEO of Wipro, retained his position as the highest-paid CEO in the IT industry for the second consecutive year, earning over $20 million (around ₹166 crore) in FY24.

What Happened: Wipro’s filings with the US Securities and Exchange Commission detail Delaporte’s earnings: over $3.9 million in salary and allowances, more than $5 million in commission/variable pay, nearly $7 million classified as other earnings, and over $4 million in long-term compensation. The company also reported severance-related costs of Rs 92.1 crore for Delaporte in FY24.

Delaporte stepped down on April 6, and Wipro named Srinivas Pallia, a 32-year veteran of the company, as his successor. Pallia, the new CEO, will receive a yearly salary package of about ₹50 crore.

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Industry Pay Trends: The disclosure of these high salaries comes amid declining revenues and growing pay disparities within the company. Wipro’s revenue fell to ₹89,760 crore in FY24 from ₹90,486 crore the previous year. Additionally, Wipro Executive Chairman Rishad Premji did not receive his commission due to the company’s net profit decline.

Other IT CEOs also saw substantial earnings. Infosys CEO Salil Parekh received ₹56 crore, while C Vijayakumar of HCLTech earned ₹28.4 crore. Debashis Chatterjee of LTIMindtree drew ₹17.5 crore, and Tech Mahindra's Mohit Joshi is set to receive ₹13 crore in total compensation. Tata Consultancy Services' CEO K Krithivasan earned ₹25.36 crore.

Delaporte’s compensation included costs for accelerated vesting of 989,130 unvested stock options and a $4.33 million cash compensation, acknowledging his significant contributions to the company and ensuring a smooth transition and adherence to post-engagement obligations.

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