GCPL Chairman Adi Godrej’s FY19 Remuneration 114-Times Higher Than Firm’s Median Pay
Godrej Consumer Products Ltd. Chairman Emeritus Adi Godrej's total remuneration in 2018-19 was 114.18 times higher than the median pay of the company's employees, while that of MD and CEO Vivek Gambhir was 311.26 times more, according to the company's Annual Report.
As per the report, Godrej's total remuneration in FY19 stood at Rs 6.07 crore, down 20 per cent from the previous year.
Gambhir's total remuneration in 2018-19 was Rs 13.1 crore, which was down 33 per cent from the previous fiscal.
According to GCPL, the median remuneration of all its employees for the fiscal year 2018-19 was Rs 4.21 lakh. The percentage decrease in the median remuneration of employees during the year was 6.23 per cent.
The number of permanent employees on the payrolls of the company as on March 31, 2019 was 2,781, the report said.
GCPL Executive Chairperson Nisaba Godrej received a total remuneration of Rs 5.2 crore during 2018-19, which was 123.47 times more than the median remuneration of the employees.
Her remuneration declined by 19 per cent during the year, it added.
According to the company, its Non-Executive Director Jamshyd Godrej received a total remuneration of Rs 23 lakh during the year under review, while those of other Non-Executive Directors Nadir Godrej, Tanya Dubash and Pirojsha Godrej stood at Rs 24 lakh each.
On the other hand, GCPL said its independent directors Aman Mehta, Ndidi Nwuneli, Bharat Doshi and Pippa Armerding received total remunerations of Rs 40 lakh each in FY19.
Independent director Narendra Ambwani's remuneration for the year stood at Rs 41 lakh, while those of other independent directors Omkar Goswami and Ireena Vittal were at Rs 33 lakh and Rs 38 lakh respectively.