Genpact CEO N V Tyagarajan's pay falls in 2014 to $2.43 million

MUMBAI: Genpact said it paid its chief executive N V Tyagarajan $2.43 million in 2014, down dramatically from nearly $16 million last year, as the company did not award him any stock or options.

This was the lowest pay Tyagarajan has drawn in the last four years, according to the company's filing with the US Securities and Exchange Commission.
Tyagarajan, known commonly in the industry as Tiger Tyagarajan, earned a salary of $632,432 and was awarded a cash bonus of $1.7 million and other compensation of $106,797 in 2014.

Last year, in addition to the salary and other compensation of $98,796, he was also awarded a bonus of $1.2 million, shares worth $1.56 million and options worth $12.5 million.

In its filing with the SEC, Genpact said Tyagarajan had achieved above target performance on both financial and strategic metrics.

Even based on realizable compensation, which reflects the current value of long-term incentive awards from prior years, Tyagarajan’s pay has fallen. Based on realizable value, he earned $2.43 million in 2014, down from $4.4 million in 2013 and $6.9 million in 2013.

Genpact’s shares have risen about 25% since 2011, and revenue has grown a little over 40% over the same period.

In 2012, Bain Capital bought a 30% stake in Genpact and since then, the company has been rejigging its strategy. Genpact pulled out of markets like China and exited unprofitable contracts, the company also narrowed its focus to customers whom it could serve more deeply.

It has revamped its sales-force and incentives to meet those goals, ET has previously reported.