{"id":1281236,"date":"2024-04-30T07:04:45","date_gmt":"2024-04-30T01:34:45","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1281236"},"modified":"2024-04-30T07:05:08","modified_gmt":"2024-04-30T01:35:08","slug":"ceo-of-this-indian-it-company-gets-rs-92-crore-for-leaving-the-organization","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/ceo-of-this-indian-it-company-gets-rs-92-crore-for-leaving-the-organization\/","title":{"rendered":"CEO Of This Indian IT Company Gets Rs 92 Crore For Leaving The Organization!"},"content":{"rendered":"\n<p>By offering a generous severance package to their departing CEO, Thierry Delaporte, one of the top IT services companies in India, Wipro has created a great buzz in the Indian IT Industry.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2024\/04\/Untitled-design-10-2-1280x720-1024x576-1-1280x720-1-1024x576-1-1024x576-1.jpeg\" alt=\"CEO Of This Indian IT Company Gets Rs 92 Crore For Leaving The Organization!\" class=\"wp-image-1281242\" srcset=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2024\/04\/Untitled-design-10-2-1280x720-1024x576-1-1280x720-1-1024x576-1-1024x576-1.jpeg 1024w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2024\/04\/Untitled-design-10-2-1280x720-1024x576-1-1280x720-1-1024x576-1-1024x576-1-300x169.jpeg 300w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2024\/04\/Untitled-design-10-2-1280x720-1024x576-1-1280x720-1-1024x576-1-1024x576-1-768x432.jpeg 768w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><strong>How Did This Happen?<\/strong><\/p>\n\n\n\n<p>There are speculations about this profitable compensation package which includes a significant requirement that underscores the intricacies of executive pay and non- compete agreements in the field.<\/p>\n\n\n\n<p>It appears that the Indian IT major will give Delaporte a whopping severance package of Rs 92.1 crore (around $11 million) after his earlier-than-expected exit from the company, as per the media <a href=\"https:\/\/www.timesnownews.com\/technology-science\/why-wipro-is-willing-to-pay-rs-92-1-crore-to-its-ex-ceo-thierry-delaporte-article-109646364\/amp?utm_campaign=fullarticle&amp;utm_medium=referral&amp;utm_source=inshorts\">report<\/a>.<\/p>\n\n\n\n<p>But there is a catch as always. Basically, this payment is dependent on Delaporte following a crucial requirement which says that he must not engage in any job or advisory roles with another firm for twelve months following his formal exit on May 31, 2024.<\/p>\n\n\n\n<p>In fact,this clause is about restricting an individual from engaging in competing activities for a certain period of time after leaving a company.<\/p>\n\n\n\n<p>This requirement is already listed for Delaporte&#8217;s severance package as per the described in his employment agreement with Wipro.<\/p>\n\n\n\n<p>According to this agreement, if he gets dismissed from his job unjustifiably then the company must give him a payout equivalent to his 12-month base salary at the time of termination.&nbsp;<\/p>\n\n\n\n<p>It is noteworthy here that these payments will stop if Delaporte secures a new job within 12 months or he decides to serve as a consultant for any company within that time frame.<\/p>\n\n\n\n<p><strong>Why Would This Happen?<\/strong><\/p>\n\n\n\n<p>For the unawares, this is not the first time that an IT company is giving a big compensation.<\/p>\n\n\n\n<p>It appears to be quite common practice to provide generous severance packages to CEOs who are leaving, especially if their time in the position is abruptly ended, in the IT industry.&nbsp;<\/p>\n\n\n\n<p>Earlier, Tata Consultancy Services (TCS) approved expenses worth Rs 48 crore for former CEO Rajesh Gopinathan&#8217;s departure agreement, during the time of his resignation in 2023.<\/p>\n\n\n\n<p>Similarly, the ex-CEO of Cognizant, Brian Humphries was also given a severance bundle valued at $6.6 million when he left in early 2023.<\/p>\n\n\n\n<p>When it comes to these large severance packages, they&nbsp; are typically consistent with the companies&#8217; contractual requirements or current industry standards.&nbsp;<\/p>\n\n\n\n<p>The main goal behind defining them is to offer fair financial assistance to executives who have had their time in their positions unexpectedly reduced.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By offering a generous severance package to their departing CEO, Thierry Delaporte, one of the top IT services companies in India, Wipro has created a great buzz in the Indian IT Industry. How Did This Happen? There are speculations about this profitable compensation package which includes a significant requirement that underscores the intricacies of executive [&hellip;]<\/p>\n","protected":false},"author":27,"featured_media":1281242,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[5218,621],"class_list":["post-1281236","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-ceo","tag-wipro"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>CEO Of This Indian IT Company Gets Rs 92 Crore For Leaving The Organization! - Trak.in - Indian Business of Tech, Mobile &amp; Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/ceo-of-this-indian-it-company-gets-rs-92-crore-for-leaving-the-organization\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CEO Of This Indian IT Company Gets Rs 92 Crore For Leaving The Organization! - Trak.in - Indian Business of Tech, Mobile &amp; Startups\" \/>\n<meta property=\"og:description\" content=\"By offering a generous severance package to their departing CEO, Thierry Delaporte, one of the top IT services companies in India, Wipro has created a great buzz in the Indian IT Industry. 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