Godrej Consumer’s Vivek Gambhir Is Highest-Paid FMCG CEO In FY19
Godrej Consumer Products Ltd.’s Managing Director and Chief Executive Officer Vivek Gambhir was the highest-paid executive in the fast moving consumer goods sector in the previous fiscal with a total remuneration of Rs 20.09 crore, followed by Hindustan Unilever Ltd.’s Sanjiv Mehta at Rs 18.88 crore, according to information available in annual reports of the companies.
The country’s top FMCG players are HUL, Nestle India Ltd., Godrej Consumer Products, Dabur India Ltd., Marico Ltd. and Emami Ltd.
In its annual report for 2018-19, GCPL said Gambhir received a total compensation of Rs 20,09,42,847. The ratio of his remuneration to median remuneration of employees stood at 311.26.
Gambhir’s remuneration included perquisite value of stock grants exercised during the financial year 2018-19.
The second highest-paid executive was HUL Chairman and Managing Director Sanjiv Mehta with Rs 18.88 crore. The ratio of his pay package to the median remuneration of the company’s employees was 194.
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Nestle India’s Chairman and Managing Director Suresh Narayanan stood third with a package of Rs 11.09 crore, while the ratio of his remuneration to median pay of employees stood at 106. Nestle India follows the January to December fiscal.
Dabur India’s whole-time director PD Narang was fourth in the list with a total remuneration of Rs 10,77,17,010, closely followed by the company’s former CEO Sunil Duggal, who retired at the end of FY19, with a remuneration of Rs 10,74,27,074. The ratio of their remunerations to the median pay of the company’s employees was 246.
Sixth in the list was Marico’s Managing Director and CEO Saugata Gupta with a total remuneration of Rs 9,21,91,648 in FY19. The ratio of his compensation to the median remuneration of employees was 97.51.
GCPL’s Executive Chairperson Nishaba Godrej received a total remuneration of Rs 6,87,56,036 in FY19, coming seventh in the list, with the ratio of her pay to median remuneration of employees standing at 123.47.
Kolkata-based Emami’s Executive Chairman RS Agarwal and whole-time director RS Goenka received Rs 6.54 crore each last fiscal, slotting in the eight spot, with the ratio of their remunerations to the median pay of employees standing at 219.26.
In terms of consolidated net sales, as per BSE records, HUL was way ahead of others in 2018-19 with Rs 39,310 crore, followed by Nestle India, which follows January-December fiscal, at Rs 11,292.27 crore.
GCPL was third with consolidated net sales of Rs 10,314.34 crore in FY19.
Dabur India posted consolidated net sales of Rs 8,533.05 crore, followed by Marico (Rs 7,334 crore) and Emami (Rs 2,692.94 crore).