HUL’s Mehta’s pay up 47% at Rs 22 crore in FY22

MUMBAI: Sanjiv Mehta, MD & CEO of Hindustan Unilever (HUL), took home a total compensation of Rs 22 crore in 2021-22, a jump of 47% over the previous year’s figure of Rs 15 crore.
In 2020-21, which was a tough year for businesses following the pandemic, Mehta’s compensation had dipped by about 6% as compared to the previous year’s remuneration of Rs 16 crore (excluding stock options). On the other hand, FY22 saw the FMCG major’s turnover crossing a milestone of Rs 50,000 crore, while it faced unprecedented headwinds on input costs. Mehta’s compensation for FY22, however, includes long-term incentives of around Rs 4 crore, according to HUL’s annual report.
Long-term share schemes incentivise senior management’s focus on the sustained delivery of high-performance results over the long-term. The amount of shares awarded is linked to business performance measured over a 3-year period across four parameters, namely competitive growth, cash, capital efficiency and progress on sustainability initiatives.
Mehta earned a bonus of a little over Rs 4 crore during the year.
Average increase made in the salaries of HUL’s employees other than the managerial personnel in the financial year was approximately 8%.

Indianshri

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