Mumbai, Sept. 17: Nasdaq-listed iGATE Corporation will pay its new CEO and president Ashok Vemuri an annual base salary of $1.3 million (about Rs 8.2 crore) and a bonus that could go up to $1 million.
Vemuri, who had served Infosys as the head of Americas and a board member, will earn nearly two times more than he did at the Bangalore-based company.
In 2012-13, Vemuri had drawn a total cash compensation of Rs 4.91 crore.
“Vemuri will be employed initially for a five-year term commencing on September 16, with an initial annual base salary of $1.3 million and an annual cash bonus ranging between 0 per cent and 200 per cent of the target bonus of $500,000,” iGATE said.
In another senior-level exit at Infosys, Kartik Jayaraman, heading BPO sales in Australia, has quit and joined outsourcing major Accenture.