No hike for Hexaware CEO

PUNE: R Srikrishna, CEO of mid-sized IT firm Hexaware Technologies received a zero per cent hike in remuneration last year, as per the company’s annual report. He was granted 1,98,511 restricted stock units (RSU) on 31st July 2017 at a price of Rs 2 under the company’s Employee Stock Option scheme. R Srikrishna, who is also Executive Director, is entitled to a salary of Rs 5.36 cr, from Hexaware, which includes a salary Rs 37.3 lakhs and a bonus of Rs 4.98cr. Apart from this, he received Rs 6.88 cr which was remuneration received from an overseas subsidiary of the firm.

A company spokesperson said that the remuneration paid was as per the terms of contract of the directors.

The CFO, Rajesh Kanani also did not receive an increase in remuneration in the past year. The company follows a January-December accounting year. In comparison, the average percentile increase in salaries of employees other than key management personnel (KMP) (excluding ESOP cost) was seven per cent, whereas the increase in remuneration to KMP was not more than five per cent.