BENGALURU: Wipro Ltd’s founder Azim H Premji and chairman Rishad A Premji have foregone their variable compensation and profit-linked commission for fiscal 2020 as “a sign of solidarity" amid business uncertainty caused by coronavirus disruptions, which is likely to last for the next few months, according to its 20F filing with the US Securities and Exchange Commission (SEC).
This resulted in Rishad Premji’s total compensation drop by about 31% to $683,496 in FY20, compared to the previous fiscal. The total compensation includes salary and allowances, variable pay, and long-term compensation benefits.
Azim Premji received a total compensation of $135,772 between 1 April–31 July, 2019, when he stepped down as the chairman of the company.