Hindustan Unilever CEO Sanjiv Mehta takes home Rs 14.20 cr in FY17

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

PTI June 08, 2017 13:00:01 IST
Hindustan Unilever CEO Sanjiv Mehta takes home Rs 14.20 cr in FY17

New Delhi: 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.

Hindustan Unilever CEO Sanjiv Mehta takes home Rs 1420 cr in FY17

Reuters

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

However, HUL Executive Director, Supply Chain, Pradeep Banerjee and Executive Director, Legal & Corporate Affairs and Company Secretary, Dev Bajpai received hikes of 8 percent 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 percent and 45.93 percent, 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 percent only.

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

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

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

Updated Date:

Subscribe to Moneycontrol Pro at ₹499 for the first year. Use code PRO499. Limited period offer. *T&C apply

also read

Spotify Stream On event highlights: Over the next few days, Spotify will be expanded to 80 new markets worldwide
News & Analysis

Spotify Stream On event highlights: Over the next few days, Spotify will be expanded to 80 new markets worldwide

Post the event, Daniel Ek, Spotify founder and CEO, and CFO Paul Vogel will be hosting an Investor Discussion and Q&A related to the Stream On event.

As Golden Globes 2021 draws close, organiser HFPA put under heightened scrutiny amid reports of lobbying, lack of inclusivity
Entertainment

As Golden Globes 2021 draws close, organiser HFPA put under heightened scrutiny amid reports of lobbying, lack of inclusivity

Members of the tax-exempt Hollywood Foreign Press Association, which puts on the Golden Globes, are said to be often courted by stars and studios, and sometimes paid.

Microsoft, EU publishers push for Australia-like system to make big tech platforms pay for news
News & Analysis

Microsoft, EU publishers push for Australia-like system to make big tech platforms pay for news

Microsoft will be working with EU on a solution to “mandate payments” for use of news content from online “gatekeepers with dominant market power.”