Cognizant CEO Ravi Kumar's FY24 pay rises nearly 14% to $8.2 million

Cognizant's CEO Ravi Kumar saw his realised compensation rise by almost 14% to $8.2 million in the 2024 financial year, up from $7.2 million the year before. According to a report by the Times of India, this is detailed in the company's 2025 proxy filing with the US Securities and Exchange Commission (SEC).

ET reported in June last year that top executives at several Indian IT services firms received higher pay in 2024 compared to 2023, despite the industry facing economic challenges and reduced tech spending.

Infosys CEO Salil Parekh’s pay went up by over a sixth last fiscal to reach Rs 66 crore in, as stated in the company’s FY24 annual report. At LTIMindtree, CEO and MD Debashis Chatterjee saw a 10% increase in his total annual pay, which rose to Rs 19.34 crore in FY24.

Meanwhile, Amit Chadha, CEO and MD of L&T Technology Services (a subsidiary of the L&T Group), more than doubled his compensation to Rs 15.4 crore in FY24 from Rs 7.3 crore in FY23.

Since August 2024, Cognizant and Infosys have been embroiled in a legal dispute, sparked by a lawsuit filed by Cognizant’s healthcare subsidiary, TriZetto, in a federal court in Texas. TriZetto accused Infosys of misappropriating data from its proprietary software to create a rival product.

The case has led to a series of legal exchanges between the two companies, with Infosys responding with its own allegations. These include claims that Cognizant was unfairly targeting its workforce, particularly senior executives who had moved from Infosys to join Cognizant.