The global IT major Cognizant announced its new Chief Executive Officer last week, the former President of the Indian IT behemoth Infosys, Ravi Kumar, replacing Brian Humphries.
Kumar served at the Bengaluru-headquartered giant Infosys for over 20 years and served as the company’s President and chief operating officer (COO) until October 2022.
According to latest reports, the tech biggie Ravi Kumar is all set to earn more than the Indian billionaire businessman and the Chairman of the country’s most-valued conglomerate giant Reliance Industries, Mukesh Ambani.
According to the figures released, Ravi Kumar has bagged a whopping salary package of Rs 57 crore per annum at the New jersey-based Cognizant.
This figure comes out to be four times more than the package earned by Mukesh Ambani in 2020, which stood at Rs 15 crore per annum. In the following two years, Ambani decided to forego his salary consecutively.
Now, it must be noted here that even though Ravi Kumar’s salary has exceeded Mukesh Ambani’s last received per annum package, it is not inferred that the former has exceeded the wealth owned by the latter.
This is because Ambani owns nearly 50% of the entire stake of the oil-to-telecom conglomerate Reliance Industries, while Ravi Kumar is being offered stock returns worth Rs 40 crore from Cognizant, of which a 95% stake is owned by the IT giant’s institutional investors.
Kumar joined Cognizant a week after leaving Infosys and served as the US IT major’s President for Cognizant Americas.
He has earned his Bachelor’s degree in engineering from Shivaji University, Kolhapur and an MBA from St Xavier’s, and served on the boards of TransUnion and Digimarc Corp in his career.
In India, the richest CEO is the CEO of DMart’s operator company Avenue Supermarts, Ignatius Navil Noronha, who enjoys an yearly package of over Rs 100 crore.
