Rishad Premji, the Executive Chairman of Wipro, one of India’s leading IT companies, has taken a substantial pay cut for the second consecutive year. His compensation for FY24 stands at around Rs 6.5 crore, a significant decrease from the previous year’s Rs 7.9 crore. This voluntary pay cut is attributed to the challenging performance of Wipro’s IT services business.
Rishad, who joined Wipro in 2007 and rose through the ranks to become Executive Chairman in 2019, holds an MBA from Harvard Business School and a B.A. in Economics from Wesleyan University. He served as the Chairman of NASSCOM for the financial year 2018-19, demonstrating his leadership in the IT sector.
Meanwhile, Azim Premji, the renowned philanthropist and founder of Wipro, received a salary of Rs 1.05 crore for FY24. This includes a sitting fee of Rs 5 lakh and the remaining amount as commission.
Wipro, with a massive market cap of Rs 243,000 crore, employs over 250,000 people across six continents. The company remains a prominent player in the Indian IT landscape, navigating the challenges and opportunities of the evolving technology landscape.
