According to reports, an American multinational information technology services and consulting company, Cognizant‘s new CEO Ravi’s total yearly compensation will be Rs 57 crore. In 2019–20, Mukesh Ambani’s annual salary was Rs 15 crore.
Recently, Cognizant announced the appointment of Ravi Kumar S as CEO and a member of the Board, effective immediately. He replaced outgoing Brian Humphries who will remain with the Company as a special advisor until March 15, 2023.
Ravi Kumar S joins Cognizant after a 20-year career at Infosys where he held various leadership roles, most recently working as President & COO until October 2022.
He is a highly educated leader. He did his engineering from Shivaji University and MBA from Xavier Institute of Management.
Humphries had resigned from the post that he held for four years, a move that has been linked to Cognizant’s recent underperformance, including revenue decline in the third quarter of 2022.
In 2020, Humphries earned a salary of $13.8 million. The reports also suggest that Ravi’s joining bonus of $7,50,000, or around Rs. 6 crores. To briefly describe the following salary components:-
- Ravi’s base salary will be $1,000,000 (about Rs. 8,13,57,500).
- Additionally, Ravi’s monetary incentive will be $2 million and he will receive a one-time hiring bonus of $5 million in the form of stock returns.
The company is currently facing some challenges and he will deal with the following Challenges:-
- Underperformance.
- Revenue decline.
- To crack large deals.
- High attrition rate and the loss of important senior personnel.
For Q3FY22, the company announced that voluntary attrition stood at 29 percent, and 6% involuntary attrition. The total employees left in the last year- 1,16,570
