HUL Chairman Sanjiv Mehta's Remuneration Reduced By 21% In FY21
According to the company's latest annual report in 2020, HUL Chairman Sanjiv Mehta's annual remuneration was Rs 19.42 crore, 21% higher due to stock options pay-out. The company's latest annual report says remuneration includes salary and allowances, bonus, perquisites, and contribution to provident fund and pension fund,
"The year 2020-21 has been challenging for each one of us. The Covid-19 pandemic has had a significant impact on lives, livelihoods, and the business. Operational challenges mounted due to restricted movement and disrupted supply lines during the first few months of the pandemic. As the second wave of the pandemic unfolds with predictions of a third wave in the offing, our focus continues to be on our people’s health and safety, ensuring uninterrupted supplies of Covid relevant portfolio, meeting the demand arising out of evolving consumer needs, caring for the communities in which we operate, and finally, protecting our business model," said Mehta in the report.
According to the company, the "average increase made in the salaries of employees other than the managerial personnel in the financial year was 3.4 per cent."
As per the reports by the company, HUL, India's biggest consumer goods firm expanded 18 per cent in both net sales and profit. The company has also granted a one-time special cash award to the frontline sales force and factory-based employees to recognise their discretionary effort.
