C.P. Gurnani, the current CEO, made Rs 63.4 crore in 2022. Mohit Joshi will take over for Gurani, one of the high-paid CEOs, since he was selected for a five-year term beginning on December 20, 2023, and running through December 18, 2028.
Mult-crore companies like Tata, Reliance, Infosys, and others provide their executives' packages with whopping yearly salaries. One highly compensated company executive is Mohit Joshi, managing director and CEO-designate for Tech Mahindra Ltd.
C.P. Gurnani, the current CEO, made Rs 63.4 crore in 2022. Joshi will take over for Gurani, one of the high-paid CEOs, since he was selected for a five-year term beginning on December 20, 2023, and running through December 18, 2028.
Who is Mohit Joshi?
Mohit Joshi, who will succeed Gurnani as managing director and CEO of Tech Mahindra on December 19, has been given a huge remuneration along with the duties. He is expected to get the first year's variable compensation, which is 13.14 crore. If the firm reaches the growth goals established by the board, Joshi would receive an extra 46 crore in annual performance bonuses, which represent roughly 70% of his variable annual salary.
Joshi formerly served as president of Infosys Ltd. and head of the company's banking, financial services and insurance (BFSI), healthcare, and life sciences divisions. He now works at Tech Mahindra.
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Mohit Joshi's education and qualification
Mohit Joshi studied at the Delhi Public School in RK Puram for his elementary and secondary education before earning his history degree from St. Stephen's College at Delhi University. He continued his education by pursuing an MBA at the University of Delhi's Faculty of Management Studies. In 2019, he completed the Harvard Kennedy School's Global Leadership and Public Policy for the 21st Century Programme.
Asia, America, and Europe are just a few of the continents where Mohit has worked. He currently resides in London, the nation's capital, with his wife and two kids. Mohit Joshi has held positions at some of the biggest companies, including Infosys, ANZ Grindlays, and ABN Amro Bank. Mohit Joshi also serves as a Non-Executive Director for the IT company Aviva, and he formerly functioned as Vice Chair of the CBI's Economic Growth Board.
Mohit Joshi’s salary
Joshi will earn a one-time $3.5 million in stock as well as a joining bonus of 7 crore rupees, with 60% of those shares vesting in his first year. This suggests that he can expect 12.41 crore in stocks in his first year. Finally, Joshi will receive annual stock option awards of up to $3.5 million, vesting in three equal payments.
According to Mint, this corresponds to 9.6 crore in the first year, increasing his total pay to 46.82 crore. Being one of the highest-paid professional CEOs in the nation, he has been promised a 7 crore joining bonus and might make up to 46.8 crore in his first year
Mohit's pay increased from Rs 15 crore to Rs 34 crore in 2021. He received remuneration of Rs 34,89,95,497 (or Rs 34.89 crore), according to Infosys filing.
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