Hotline: 1800 102 2007
X
Search Business Opportunities
Jun, 08 2017

HUL CEO receives pay package of Rs.14.2 crore for FY17

The average increases every year is an outcome of the company's market competitiveness as against its peer group companies, the company said.

FMCG major Hindustan Unilever Managing Director and CEO Sanjiv Mehta received a pay package of Rs 14.20 crore for the last fiscal, even with no increase in his salary from the previous year.

HUL Chief Financial Officer P B Balaji took home a salary of Rs 8.33 crore for the period under review, although he also did not get any raise in 2016-17.

According to the company's Annual Report, the ratio of compensation of Mehta to median renumeration of employees stood at 138.44 per cent and that of Balaji at 81.36 per cent.

However, HUL Executive Director, Supply Chain, Pradeep Banerjee and Executive Director, Legal & Corporate Affairs and Company Secretary, Dev Bajpai received hikes of 8 per cent each in their salaries and took home Rs 4.75 crore and Rs 4.69 crore, respectively.

In the case of Banerjee and Bajpai, the ratio of their salaries to median renumeration of employees was at 46.48 per cent and 45.93 per cent, respectively.

Stating that the increase reflected the market practice, HUL said: "The renumeration paid during the year is as per the renumeration policy of the company."

However, the percentage increase in the median remuneration of the company's employees for the financial year was 3.42 per cent only.

The company had 5,976 permanent employee on its roll as on March 31, 2017.

Average percentage increase made in the salaries of the employees other than the managerial personnel in FY2016-17 was 5.57 per cent whereas the increase in the managerial remuneration was 3.1 per cent.

The average increases every year is an outcome of the company's market competitiveness as against its peer group companies, the company said.

Comment
image
Related opportunities
  • Multi Cuisine Restaurant
    About Us: Established in 1994, Tomato's, a venture of Ahura Restaurants..
    Locations looking for expansion Ahmedabad
    Establishment year 1994
    Franchising Launch Date 2011
    Investment size Rs. 1 Cr. - 2 Cr
    Space required 2600
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Prahaladnagar Ahmedabad
  • Tea and Coffee Chain
    About Us: Tea Live is a home grown Malaysian brand with..
    Locations looking for expansion Delhi
    Establishment year 2017
    Franchising Launch Date 2019
    Investment size Rs. 30lac - 50lac
    Space required 300
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Car wash / Ceramic Coating / Detailing
    About Us:   You can define WHEELER CLEANER in myriad ways, but..
    Locations looking for expansion Karnataka
    Establishment year 2013
    Franchising Launch Date 2014
    Investment size Rs. 10lac - 20lac
    Space required 900
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mysore Karnataka
  • Juices / Smoothies / Dairy parlors
    About Us: We are likely to bring about a revolution in..
    Locations looking for expansion Maharashtra
    Establishment year 2015
    Franchising Launch Date 2018
    Investment size Rs. 5lac - 10lac
    Space required 35
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Mumbai Maharashtra
Insta-Subscribe to
Entrepreneur
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities