Wipro shareholders have given their approval to the $4.33-million severance package of former CEO and managing director Thierry Delaporte, with over 90 percent of votes in favor. Data from the BSE indicates that only about 10 percent of valid votes were cast against the resolution.
Delaporte resigned on April 6, and Srinivas Pallia, a veteran with 32 years of experience, was appointed as his successor. The company incurred severance-related costs of Rs 92.1 crore towards the outgoing CEO for FY24.
Wipro’s founder-chairman Azim Premji and related entities, which hold a majority of shares, played a crucial role in passing the resolution.
Delaporte, who earned over $20 million in FY24, was the highest-paid CEO in the IT industry for the second consecutive year. His successor, Pallia, is set to receive an annual remuneration package of approximately Rs 50 crore for FY25, making him the second-highest-paid CEO in the Indian IT industry.
The resolution saw over 45 crore shares in assent and over 393 crore shares in dissent as a percentage of net valid votes.
