Adi Godrej, chairman emeritus, Godrej Consumer Products (GCPL) earned a remuneration which was 114.18 times higher than the median pay of the Company’s employees, in 2018-19. The remuneration of Vivek Gambhir, MD and CEO, was 311.26 times more.
The annual report of the Company revealed that Godrej earned a total remuneration of Rs 6.07 crore in FY19, which was 20 per cent less than last year.
Gambhir’s total remuneration in 2018-19 was Rs 13.1 crore, that is, 33 per cent less than the previous fiscal.
According to GCPL, the median remuneration of all its employees for the fiscal year 2018-19 was Rs 4.21 lakh. This indicated a percentage decrease of 6.23 per cent.
The workforce strength as in March 2019 was 2,781.
Nisaba Godrej, executive chairperson, GCPL, received a total remuneration of Rs 5.2 crore during 2018-19, which was 123.47 times more than the median remuneration of the staff. However, her remuneration had also dropped by 19 per cent during the year.
Jamshyd Godrej, non-executive director, GCPL, earned a total remuneration of Rs 23 lakh, while those other non-executive directors, such as Nadir Godrej, Tanya Dubash and Pirojsha Godrej received Rs 24 lakh each.
Independent directors, Aman Mehta, Ndidi Nwuneli, Bharat Doshi and Pippa Armerding received total remunerations of Rs 40 lakh each. Narendra Ambwani, independent director, received Rs 41 lakh, while Omkar Goswami and Ireena Vittal, who are also independent directors, received Rs 33 lakh and Rs 38 lakh respectively.