The fast-moving consumer goods sector is abbreviated as FMCG. Savkata Gupta, Managing Director and CEO of Marico in the sector, saw a 157% increase in annual salary to Rs 36.1 crore in the current financial year. He has topped the list of highest paid CEOs in the industry.
Marico sells beauty and nutritional products like Parachute Coconut Oil, Sabola Cooking Oil, Sabola Oats, Set Wet Gel. The company’s CEO, Vana Savkata Gupta’s salary for the financial year 2021 was Rs 14.03 crore. It has increased by 157% to Rs 36.1 crore in the current financial year. A substantial part of his income came from the issuance of shares. These are called employee stock ownership plans and restricted stock units. Gupta has received Rs 22.47 crore from the sale of substantial shares alone.
Hindustan Unilever CEO and MD Sanjeev Mehta is the second highest paid CEO after Marico CEO. His salary rose 47 percent to Rs 22 crore in the current fiscal from Rs 15 crore in 2021. Rs 3.37 crore as salary, Rs 9.2 crore as various steps, Rs 4.3 crore as bonus and Rs 4.2 crore for outstanding performance.
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Nestlé India CEO Suresh Narayanan occupies the third position in the list of highest paid FMCG CEOs. His salary rose 9.3 percent to Rs 18.8 crore in the current fiscal from Rs 17.19 crore in FY21.
Mohit Malhotra, CEO of Dabur India, occupies the fourth position in this list. His salary has increased by 42.8 percent over the 2021 financial year and now stands at Rs 14.6 crore.
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Sanjeev Puri, CEO, ITC., is at 5th place. His salary in 2021 was Rs.11.95 crore. Now it has increased by 5 percent to Rs.12.59 crore.
At number 6 is Britannia CEO, Varun Perry. His salary was Rs 10.52 crore in FY 2021. 9.03 percent increase to Rs 11.47 crore in 2022.
Only one CEO’s salary has been significantly reduced in FY 2022. He is the CEO of Tata Consumer Products, Sunil D’Souza. They have reduced their salary by 27.34 percent from Rs.10.49 crore in 2021 to Rs.7.62 crore in the current financial year.
At number 8 on the list is Sudhir Seethapati, who recently became the CEO of Godrej Consumer Products. His FY 2022 salary is Rs 2.66 crore.
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