Hot Shot Indian CEOs Join Re 1 Salary Club

By siliconindia | Wednesday, 05 June 2013, 11:43 Hrs

Bangalore: New example has been set by Infosys founder Narayan Murthy and his top officials who will be taking Re 1 as their salary package, reports Reeba Zachariah of Times of India. The IT major Infosys had been struggling for past two years with its profit numbers and therefore had called its former CEO and founder to head the clan.

There are few of the other leaders too who have eschewed salaries to boost up their organizations going through one of the nastiest economic turmoil. Google's Larry Page, Hewlett Packard's Meg Whitman, Facebook's Mark Zuckerberg and Fossil CEO Kosta Kartsotis have also settled for $1 salary lately.

However, Murthy and his team would anyway make up the losses by other means. The stake holders of the company along with senior and junior Murthy have been earning big bucks. In the financial year 2012 Narayan Murthy earned 10 crore from his 0.41 percent stake and his son Rohan earned 33 crore from his 1.38 percent stake. Moreover Murthy and his team also don’t have to pay taxes on these dividend incomes as it is tax free in the hands of the shareholders.