Tata Group’s Tata Consultancy Services (TCS) has appointed Chief Executive Officer (CEO) and Managing Director (MD) K Krittivasan to earn over ₹25 crore in FY 2023-24. The company has given information about this today i.e. on 9th May. Kritivasan took over as the head of the country’s largest IT company in June 2023 after Rajesh Gopinathan was suddenly removed from TCS. His appointment has been for a period of five years. TCS COO earned ₹ 26.18 crore in the entire financial year. The special thing is that during this financial year, the company’s Chief Operating Officer NG Subramaniam earned ₹ 26.18 crore. His earnings include benefits, facilities and allowances worth Rs 3.45 crore. Along with this, Rs 21 crore received from commission is also included. Soon NG Subramaniam is going to retire from the company. According to the report, the remuneration of the company’s COO is 346.2 times the average remuneration of its employees. The average wage of an employee till March 31, 2024 was Rs 6,01,546. Kritivasan’s earnings of ₹ 25 crore also included allowances worth ₹ 3.08 crore. According to the annual report of TCS, Kritivasan has been given a salary of ₹ 1.27 crore with benefits and allowances of ₹ 3.08 crore in the last financial year 2023-24. Along with this, he has also received a commission of Rs 21 crore. The company said that Kritivasan’s income also includes his remuneration as the global lead of TCS’ largest banking, financial services and insurance division. Kritivasan’s earnings do not include Employee Stock Purchase Scheme (ESPS), he holds about 11,232 shares of the company.
