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Chief executive officer and managing director, N Chandrasekaran's salary for FY14 was up by almost 60%. For the fiscal Chandrasekaran took a total remuneration of Rs 18.68 crore up 59.7% from Rs 11.69 crore. This does not include the 88,528 shares he owns in the company.
The hike in TCS CEOs salary reflects the growth with which the company has been growing. TCS in terms of growth has been leading industry growth rate. For FY14 revenue growth was ahead of Nasscom's growth target of 12-14%. In dollar terms the company clocked growth of 16.2% in revenue at $13.4 billion and net income grew 22.9% at $3.1 billion.
The continued industry leading performance has also meant TCS improving its brand value. According to the Brand Finance Global 500 study 2014, that the annual report of the company mentions, TCS' brand value was up by $3.04 billion in 2014. The overall brand value of the company was $8.2 billion, a 3x increase in the growth of the company's brand value.
Last year the company has announced that it has decided to revise the monthly salary of CEO and MD Chandrasekaran by half to Rs 15 lakh. The revised salary will be applicable with effect from April 1 next year.
Then the company had stated, "Taking into consideration, the increased business activities of the company and the responsibilities cast on N Chandrasekaran, the Board has revised his maximum limit of salary from Rs 10,00,000 a month to Rs 15,00,000 a month, with effect from April 1, 2014," the company said in its annual report for 2012-13. It also said the proportionate increase would also be applicable to the other benefits he was getting.
