Puri garnered a remuneration of Rs 25.18 crore in 2024 (Image: ITC LTD)

In an annual report by FMCG, Sanjiv Puri (Chairman and Managing Director) of ITC, was declared as the highest-paid CEO among the top peers in consumer goods service. It was announced by the Fast Moving Consumer Goods (FMCG) firms including Nestle India, and Hindustan Unilever (HUL). The reports stated that Puri garnered a remuneration of Rs 25.18 crore in 2024, His total gain soared to 54.3% compared to the previous year. Following that, Suresh Narayanan of Nestle India took home a total remuneration of 23.52 crore in FY24. HuL’s CEO Rohit Jawa placed in the third position with a personal profit of 22.39 crore.

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Puri was ranked fourth on the highest-paid list last year with a remuneration of 16.32 crores. His growth in FY24 marks a significant upturn among his business peers. The previous year’s annual report showed Marico’s Saugata Gupta as the most-paid Chief Executive Officer as he gained Rs 25.11 crores in the previous financial year. HUL’s former CEO and MD Sanjiv Mehta was at second at Rs 22.36 crore and Nestle’s CEO Narayanan at third with 17.74 crore in the FY23.

Sanjiv Puri maintained his continued toil in distribution and expansion in business, especially in agrarian areas. According to the analysts, Puri succeded in manoeuvring ITC during the challenging FY24 marked by tight competition and a slowdown in the rural markets. The separation of companies that were formerly tied to its hotel business helped to cater to the value of shareholders in ITC. When it comes to the total income his FY24 compensation gathered a basic payment of 3.12 crore with other benefits of Rs 57 lakhs and another performance bonus of Rs 21.48 crores for the whole year. He was also granted a 1,34,500 stock option in total from the company.

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ITC Limited is an Indian conglomerate company run under Sanjiv Puri’s chairmanship. It is headquartered in Kolkata, with a diverse presence across six business segments, hotels, agribusiness, paper products, IT and packaging. It generates a whopping revenue from its tobacco products as well.