Wipro public shareholders object to outgoing CEO Delaporte’s severance pay

A majority of public shareholders in Wipro, India’s fourth largest information technology (IT) services company, objected to chief executive Thierry Delaporte’s cash compensation, according to regulatory filings.

Almost 80 per cent of them cast ‘against’ votes on a resolution to pay $4.33 million (Rs 36 crore) cash compensation to Delaporte, marking a rare instance of minority shareholders expressing displeasure over CEO pay at an IT company. Top public shareholders in Wipro include LICI Gratuity Plus Income Fund, JP Morgan Chase Bank, SBI Arbitrage Opportunities Fund.