Bengaluru: According to a proxy declaration submitted to the US SEC., Cognizant CEO Brian Humphries received total compensation of INR 102 Crore, equivalent to the US $13.8 million in the year 2020.
Humphries joined Cognizant from Vodafone in 2019. In 2019, Cognizant CEO Brian Humphries received USD 15.9 million, including $7 million, to compensate Humphries for forfeiting sure long-term compensation at Vodafone.
Cognizant CEO Salary components
Cognizant CEO salary consists of three main components:
- Base Salary- Annual Base Salary.
- Restricted Stock Unit (RSU) – Specific number of stock or cash equivalent shares at a future date, once vested.
- Restricted Stock Unit (RSU) — A targeted number of shares of stock or cash equivalent to an employee at a future time, once vested.
In 2020, Cognizant Big Boss got PSUs of $6.2 million and restricted inventory models (RSUs) of $4.2 million and an annual base salary of $5.1 million(Including $4 million for breaking the bond with Vodafone). Humphries and different high executives obtained 85% of their annual money incentive (ACI) in 2020.
Cognizant’s Top 3 Highest Paid Executives apart from Cognizant CEO.
- Becky Schmitt, Executive Vice President and Chief People Officer, joined Cognizant in February of 2020. She received total compensation of $9.47 million in 2020, which includes a base salary of $595,845 and a bonus of $600,000 for the year.
- Malcolm Frank, President, Cognizant Digital Business, joined Cognizant almost 16 years ago. He received $7.72 million of total compensation in 2020, including a salary of $650,000 and other stock incentives worth $6.51 million.
- Jan Siegmund, Chief Financial Officer, joined as Cognizant CFO in September 2020. Since he joined only during the last four months of 2020, Siegmund’s salary of $266,667 was the lowest of Cognizant’s executives for the year. However, he received a bonus of $5.66 million in stock awards for total compensation of $6.20 million for the year.
Cognizant in News throughout the year due to mass Layoff, Ransomware, and high attrition of Cognizant Executives
Once one of the best IT companies to work in India, Cognizant has lagged in the past few years compared to other peers.
Many criticized Cognizant Technology Solution for its mass layoff and long cognizant working hours for Indian development centres. Since the time Brian joined as Cognizant CEO, his job was much challenging. Cognizant needed to take care of a crippling ransomware assault, along with the Covid-19 pandemic.
In the last few years, many top talented cognizant executives have left the company; however, Cognizant CEO Brian’s aggressive M & M&A technique and strategy and another restructuring include hiring freshers and removing dependency on H1b Visa in the US is helping Cognizant.
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