Wipro chairman Azim Premji announced his retirement on Thursday. (Photographer: Daniel Acker/Bloomberg)

Azim Premji’s Salary Rose 95% To Rs 1.8 Crore In 2018-19, Says Wipro

Wipro Ltd.’s outgoing executive chairman Azim Premji saw his salary rise almost 95 percent to $262,054 (about Rs 1.81 crore) during 2018-19.

His son, Rishad Premji, who is set to take over the reins of the Bengaluru-based IT firm, took home $987,652 (about Rs 6.8 crore) in 2018-19, Wipro said in a regulatory filing on Tuesday. Wipro chief executive officer Abidali Neemuchwala saw his salary grow 41 percent to $3.9 million (about Rs 27.3 crore) in 2018-19 as compared with the previous fiscal.

Wipro had last week said its founder Azim Premji will retire by July-end and hand over the reins of the firm to his son, Rishad. Premji, who turns 74 next month, will retire as executive chairman upon completion of his current term on July 30, 2019, after having led the company for 53 years.

As per Tuesday’s filing, Azim Premji received $62,322 in salary and allowances, $131,231 as commission/variable pay, $55,705 (others) and $12,796 in long-term compensation in 2018-19.

Neemuchwala received over $1 million in salary and allowances, $891,760 as commission and variable pay, over $2 million (others) and rest in long-term compensation in 2018-19, the filing added.

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