Cognizant CEO saw performance bonus slip by 20% on slow business growth

Joins rival Infosys' CEO Vishal Sikka in losing incentives as IT firms struggle with business shifts

Cognizant Technology Solutions chief executive Francisco D’Souza saw his performance bonus dip 20 per cent in 2016 as the software exporter slipped on targets and faced investors’ ire over its business model.

The US-headquartered firm with a large offshore base grew its revenue 8.6 per cent to $13.49 billion in 2016, lower than its projection of 10-14 per cent.  

D'Souza saw his cash payout reduce to $450,332 from the targeted $564,655 for the year, according to regulatory filings on Friday. 

However, his base pay increased three per cent to $664,300 for 2016. Sixty three per cent of his annual