HCL CEO may turn top-paid boss among IT peers

HCL Technologies Ltd’s chief executive C. Vijayakumar is likely to earn as much as $10.8 million annually over the next five years, making him the highest-paid boss among Indian software services companies.

The pay jump also indicates that the country’s third-largest software exporter has shed its decades-old approach of being a conservative paymaster. Vijayakumar has been CEO of the company since October 2016, but was not a part of the company’s 12-member board. Last month, HCL founder Shiv Nadar stepped down from the board, making way for Vijayakumar as managing director.

Noida-based HCL Technologies disclosed its chief executive’s remuneration in its annual report for the first time.