For the financial year ended March 2008, Wipro Chairman Azim Premji has settled for a salary that is 63% less than last year’s. According to Wipro’s annual report 2007-08, the company’s chairman drew Rs. 1.31 crore, as against last year’s Rs. 3.58 crore. The Board Governance has determined the remuneration of the chairman and the other board members and Compensation Committee based on the net profit of the company, reports BusinessWorld.
I don’t know if this has got to do anything with the global slowdown or its not so scorching performance in the last financial year. 
If you wonder what stuffs normally does a CEO salary includes, here it goes:
Total compensation for each chief executive includes the following: salary and bonuses; other compensation, such as vested restricted stock grants, LTIP payouts and perks; and stock gains, the value realized by exercising stock options.
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