In a regulatory filing, the IT company said that the shareholders of the company have given their approval through postal ballot and electronic voting for Parekh to be appointed as the CEO and MD of the company. Some 97.96% of company shareholders approved of this appointment which was made known through the result of e-voting and physical ballot on February 20, 2018.
In the late filing on Thursday evening, the company stated that 99.98% of the shareholders also approved of the appointment of UB Pravin Rao as the COO and whole time director of the company.
For the initial months of the year 2018, the MD and CEO of the company would be compensated with a variable pay of Rs 23.7 million which is exclusive of other fixed salary and benefits. Also, a fixed salary of Rs. 65 million has been decided for the ex-Capegemini executive who shall also be eligible for other incentives depending on the achievement of some of the laid down performance benchmarks. This includes 125% of the variable pay of Rs 97.5 million.
With Inputs From PTI