By Anindita Nayak
Bhubaneswar, May 9
Tata Consultancy Services’ CEO and MD, K Krithivasan’s total compensation for FY24 stood at Rs 25.2 crore, the company said in its annual report.
The annual report filed by TCS on exchanges said that Krithivasan’s compensation included the salary drawn as Global Head of Banking, Financial Services and Insurance (BFSI) vertical for the last financial year.
Krithivasan’s compensation was marginally lesser the total payout of former CEO Rajesh Gopinathan’s FY23 package of Rs 29.16 crore. Gopinathan, who left the IT giant last year, also earned around Rs 1 crore as pay for a portion of the year.
During the last financial year, company’s Chief Operating Officer, N G Subramaniam, popularly referred to as NGS, received a comprehensive remuneration of Rs 26.1 crore during the 2024 fiscal year. Subramaniam will retire from TCS later this month.
TCS chairman N Chandrasekaran in his letter to shareholders said the demand environment may be turning the corner globally.
“After two years of recessionary fears, persistently high inflation, and unprecedented monetary tightening, the global macro-outlook looks relatively better now with improving growth, disinflation, and monetary easing in sight,” Chandrasekharan said.
“Across industries globally, there are multiple mega trends that are shaping priorities of businesses: AI, new energy, supply chain and talent. These transitions will require
substantial investment in technology across industry sectors. Your company is making significant investments and building capabilities to partner with customers during this phase of rapid technological shifts,” he wrote to shareholders.
With regard to AI and cloud offerings, the company said that it has developed domain-specific capabilities.
“In FY24, TCS has consolidated AI and Cloud expertise with the creation of the AI.Cloud unit. In addition, each of the business groups are developing domain-specific AI/GenAI offerings relevant to the industry value chain. Over 300,000 employees have been upskilled on GenAI technologies in FY 2024,” the Chairman of TCS said.
