In a significant development, Hindustan Unilever Limited (HUL) has allocated an eye-popping annual gross remuneration package of Rs 9,06,98,632 for its Executive Director – Human Resources, Biddappa Bittianda Ponnappa.
Biddappa holds the postion of Executive Director and Chief People, Transformation and Sustainability Officer for HUL and Unilever, South Asia.
HR Leadership Transition at HUL
B P Biddappa stepped into the role of Executive Director – HR on June 1, 2024, succeeding Anuradha Razdan. With 32 years of experience in Unilever, Biddappa brings a wealth of knowledge to the position.
Prior to this appointment, he served as the Global Chief Human Resources Officer (CHRO) for the Home Care business across all markets in Unilever since 2019.
His journey within Unilever has been nothing short of impressive, having held key HR leadership roles in various regions.
Biddappa’s professional journey began as a financial consultant at AF Ferguson & Co. He then embarked on his HUL career, starting from the Orai factory and gradually taking on various roles in HR and leadership development.
His educational background includes an MBA from XLRI, Jamshedpur, and a Bachelor’s Degree in Economics from Delhi University.
Breaking Down the Compensation
Biddappa’s basic salary stands at a staggering Rs 3,07,36,847 per annum, with a cap of Rs 3.5 crore. The fixed remuneration, which includes basic salary, allowances, and retirals, amounts to Rs 4,17,96,604 annually.
There’s a target bonus of Rs 2,50,77,963 per annum, set at 60% of the fixed remuneration. Biddappa is also awarded Long Term Incentive shares equivalent to the target bonus, amounting to Rs 2,50,77,963.
Factors like Cost-of-Living Adjustment and Foreign Exchange Protection contribute an additional Rs 12,53,898 to his compensation. When you add it all up, Biddappa’s annual package reaches a mind-boggling Rs 9,06,98,632.
HUL: Company Overview
HUL, a powerhouse in the FMCG sector, boasts 7,215 permanent employees as of March 31, 2024.
The company consistently strives to reward its workforce, with a 7.38% increase in the median remuneration for employees during the financial year 2023-24.
Notably, the average salary increase for non-managerial personnel was 4.4%.
Within the HUL Board of Directors, nine males hold a median salary of Rs 28,82,222, while three females earn slightly more, with a median salary of Rs 30,70,000.
Among the Key Managerial Personnel, three males command significantly higher remuneration (Rs 10,37,92,388), while no females are listed in this category.
For non-Board and non-Key Managerial Personnel, 5,942 males have a median salary of Rs 13,74,185, and 2,300 females earn a higher median salary of Rs 14,61,558.
In the workers’ category, 10,524 males receive a median remuneration of Rs 5,26,950, while 658 females earn a lower median salary of Rs 3,92,876.
Note: We are also on WhatsApp, LinkedIn, Google News, and YouTube, to get the latest news updates, Subscribe to our Channels. WhatsApp– Click Here, Google News– Click Here, YouTube – Click Here, and LinkedIn– Click Here.
