Infosys CEO Shibulal package stood at $119,774 for FY13

Infosys CEO Shibulal package stood at $119,774 for FY13According to a regulatory filing, the Chief Executive Officer of Indian IT sector giant, Infosys saw his compensation fall 26.5 per cent to US$ 119,774 during the financial year 2012-2013.

Shibulal has received an annual compensation of US$ 162,990 in the previous year. The fall in the compensation is mainly due fall in reduction in bonus component. His bonus in the financial year 2013 recorded a fall of 70.14 per cent to US$ 15,918compared to US$
53,326.

The company indicated that the board is now aligning compensation of employee directors with that applicable to other employees in the company. All of the company’s executive directors are eligible to get bonus of up to 20 per cent of fixed salary and they are also eligible to performance incentives that are payable on achievement of certain financial targets.

Executive co-chairman Kris Gopalakrishnan and chief executive SD Shibulal have recorded a fall of 28 per cent in their annual salary package for the financial year 2012-2013. The company informed the US Securities and Exchange Commission (SEC) that it has paid total compensation to Gopalakrishnan for the financial year. V Balakrishnan recorded a fall of 37 per cent fall in the total compensation.