At least 78.4% of the Azim Premji-led IT major’s public shareholders or 10.31% of overall shareholders voted against the cash compensation awarded to Delaporte, showed the voting records published on BSE on Thursday.
Among the shareholders, at least seven large foreign institutional investors, including a large UK and Canadian fund, opposed the decision.
Meanwhile, Wipro has a 73% promoter holding which helped the resolution secure an overall 89.69% vote in favour of rewarding the cash compensation to Delaporte, who resigned in April this year.
Delaporte quit a year ahead of his term end, after serving four years at the helm of India’s fourth largest IT services firm.
Following his resignation, Wipro disclosed that it had agreed to pay $4.33 million to Delaporte, likely the highest cash payment made to an outgoing executive at Wipro.
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Delaporte earned over $20 million (approximately Rs 166 crore) in FY24, which made him the highest-paid CEO in India’s IT industry for the second year in a row.According to Wipro’s recent 20-F filings with the US Securities and Exchange Commission, Delaporte earned over $3.9 million as salary and allowance, over $5 million as commission/variable pay, almost $7 million classified as others, and $4.33 million as long-term compensation.
The voting also approved Srinivas Pallia’s appointment as the chief executive officer and managing director of the company, Wipro said in the BSE filing.
