Mumbai, April 30: Wirpo's new CEO and MD, Srini Pallia, comes on board with 32 years of experience in the industry. Srini Pallia, appointed as CEO and MD on April 6, has an experience as President of Wipro's Consumer business unit which he made the best 'Strategic Unit' between 2018-19. Before becoming the new CEO and MD, Srini Pallia also held a position as a global head of 'Business Application Services. He gets a surprising salary package. With all his experiences in the new position, he receives a surprising salary package and perks.

According to a report by Times Now News, Srini Pallia held different positions in the organisation and boasted three decades (32 years) of experience. He recently held a position as the CEO of the Americas 1 strategic market unit. Wipro's newly appointed CEO would receive an annual compensation package in the millions. As a Wipro CEO, Srini Pallia would have to follow the termination terms as per the agreement signed. Google Layoffs Continue: Tech Giant Lays Off ‘Unspecified’ Numbers of Employees From Flutter, Dart and Python Teams; Know Why.

Wipro CEO Srini Pallia Salary Package and Compensation Breakdown

The new Wipro CEO, Srini Pallia, is expected to receive a $4.5 million to $7 million annual compensation per a shareholder notice posted on BSE, said the report. The report said that Srini Pallia's annual compensation package included a base salary starting from $1.7 million to $3 million. The report said it would be supplemented by a target variable pay from $1.7 to $3 million. It also said that the actual variable pay would be contingent upon the organisation's and board's pre-set goals. Ankur Jain and Erika Hammonds' Wedding Pics and Videos: Tech Billionaire Marries Former WWE Star in a Lavish Ceremony Held Amidst the Splendour of Egypt.

Additionally, Srini Pallia would get stock compensation of $4 million, which would include ADS (American Depositary Shares) valued at $1.4 million and ADS RSUs (American Depositary Shares Restricted Stock Units) valued at $2.6 million. The report said the stock vesting would be spread over three years, and specific conditions would be attached to the performance metrics per Wipro's company policy. Srini Pallia would have to decide to terminate the contract with a six-month prior notice to the company, or an equivalent salary instead of notice would be required.

(The above story first appeared on LatestLY on Apr 30, 2024 11:37 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).