Ravi Kumar Singisetti, the Chief Executive Officer (CEO) of Cognizant, received a staggering compensation of $22.56 million (approximately Rs 186 crore) last year, according to recent media reports. This significant sum was primarily attributed to a one-time stock reward, making Singisetti the highest-paid Indian executive within the Indian information technology (IT) sector.
At 52 years old, Singisetti assumed the leadership role at Cognizant in January 2023. According to a filing by the company dated April 12, he received shares valued at $20.25 million (nearly Rs 169.1 crore) last year. The filing also detailed Singisetti’s performance stock units (PSUs) and restricted stock units (RSUs), highlighting the complexity and potential variability of his compensation package.
The PSUs, with a target value of $3,000,000, offer a payout range from 0 per cent to 250 per cent of the target over a four-year performance cycle, contingent on the absolute total shareholder return of Cognizant’s common stock. Additionally, Singisetti received an equity award comprising RSUs with a grant date value of $5,000,000, intended to replace forfeited equity awards from his previous employer.
Singisetti’s compensation as a percentage of company revenue underscores his significant position within Cognizant. His remuneration, amounting to 0.11 per cent of the company’s $19.35 billion revenue last year, places him at the forefront in terms of CEO compensation relative to company earnings within the Indian IT services sector.
Singisetti’s illustrious career spans over two decades, marked by diverse experiences across esteemed organizations. He commenced his professional journey as a nuclear scientist at the Bhabha Atomic Research Centre, showcasing early aptitude and dedication in the field. Subsequently, he transitioned to pivotal roles at renowned companies, including Infosys, where he served as president and chairman of the board. Singisetti’s tenure at Infosys was preceded by notable stints at PricewaterhouseCoopers, Oracle, Sapient, and Cambridge Technology Partners.
His strategic acumen and leadership prowess have undoubtedly positioned him as a notable figure within the IT industry, garnering recognition for his achievements and contributions. Singisetti’s trajectory from a nuclear scientist to a prominent business leader underscores his versatility and adaptability, further solidifying his standing as a trailblazer within the realm of technology and corporate governance.
As Cognizant continues to navigate evolving market dynamics and chart a course for sustainable growth, Singisetti’s leadership remains instrumental in driving the company forward. His remarkable compensation reflects not only his individual accomplishments but also the broader trajectory of Cognizant under his stewardship, reaffirming its status as a key player in the global IT landscape.
