Colgate Palmolive (India) MD, chairman, board of directors and AGM

Mutual fund votes, meeting of 23 Apr 2025, 31 fund houses

Each resolution counts the houses whose vote was matched to it; the rest are listed last.

• 1 - Re-appointment of Ms. Gopika Pant (DIN:00388675) as an Independent Director of the Company.

  ›Against Angel One Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual FundTransparency Concern: Attendance details are not available for Board meetings held during FY 2024-25 till the date of the Notice.
  • Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundRe-appointment compliant with law. No concern on the merits of the appointee. Transparency Concern: Attendance details are not available for Board meetings held during FY 2024-25 till the date of the Notice.

  26 for5 against
• 2 - Re-appointment of Mr. Sekhar Natarajan (DIN:01031445) as an Independent Director of the Company

  ›Against 360 One Mutual Fund, Angel One Mutual Fund, Groww Mutual Fund, Invesco Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Taurus Mutual Fund, Zerodha Mutual Fund

  • 360 One Mutual Fund, Taurus Mutual FundSekhar Natarajan, 71, is the Managing Partner of S.N. Consultants and a founding Partner of AgVaya LLP where he provides strategic advice and guidance to local and international companies. He has been associated with the company since 21 May 2020, he has attended all five (100%) board meetings held in FY25 till the date of notice. While his reappointment is in line with the statutory requirements, we are unable to support the resolution because Sekhar Natarajan serves as Independent Director on the board of four listed companies (including Colgate Palmolive India Limited). Given their full-time responsibilities, regulations allow whole-time directors of listed companies to be independent directors in a maximum of three listed companies. We believe that as Managing Partner of S.N Consultants and Founding Partner of AgVaya LLP, his responsibilities are equivalent to a whole-time directorship. Therefore, his high number of directorships on listed companies is not in keeping with the spirit of the regulation. We do not support the resolution.
  • Angel One Mutual FundTransparency Concern: Attendance details are not available for Board meetings held during FY 2024-25 till the date of the Notice.
  • Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundRe-appointment compliant with law. No concern on the merits of the appointee. Transparency Concern: Attendance details are not available for Board meetings held during FY 2024-25 till the date of the Notice.
  • Invesco Mutual FundSekhar Natarajan, 71, is the Managing Partner of S.N. Consultants and a founding Partner of AgVaya LLP where he provides strategic advice and guidance to local and international companies. He has been associated with the company since 21 May 2020, he has attended all five (100%) board meetings held in FY25 till the date of notice. While his reappointment is in line with the statutory requirements, we are unable to support the resolution because Sekhar Natarajan serves as Independent Director on the board of four listed companies (including Colgate Palmolive India Limited). Given their full-time responsibilities, regulations allow whole-time directors of listed companies to be independent directors in a maximum of three listed companies. We believe that as Managing Partner of S.N Consultants and Founding Partner of AgVaya LLP, his responsibilities are equivalent to a whole-time directorship. Therefore, his high number of directorships on listed companies is not in keeping with the spirit of the regulation. We do not support the resolution
  • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)

  22 for9 against
• 3 - Re-appointment of Mr. Surender Sharma (DIN:02731373) as a Whole-time Director of the Company.

  ›Against 360 One Mutual Fund, Angel One Mutual Fund, Axis Mutual Fund, Groww Mutual Fund, Invesco Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual Fund

  • 360 One Mutual FundSurender Sharma, 49, is Whole-time Director – Legal, Company Secretary (from 22 February 2022) and Compliance Officer at Colgate-Palmolive (India) Limited. He has been on the board since 21 May 2020 and joined the company as Associate Director Legal in 2017. He received a remuneration of Rs. 37.5 mn in FY24 (including commission of Rs. 6.8 mn and Rs. 9.9 mn in stock-based compensation from Colgate-Palmolive Company’s global executive compensation program). As per the proposed terms, his estimated fixed pay and performance bonus for FY26 (excluding stock options) aggregates Rs. 29.4 mn, which can go to a maximum of Rs. 69.5 mn. He is entitled to stock options from Colgate-Palmolive Company, U.S.A. as per ColgatePalmolive Company’s global executive compensation program, for which there is no guidance provided, nor is there an absolute cap. Therefore, we are unable to estimate his overall remuneration. The company must cap overall remuneration in absolute amounts and quantify/disclose the stock options that he is eligible to receive, including the performance metrics which determine such variable pay. Due to lack of adequate disclosures, we are unable to ascertain his aggregate remuneration and hence do not support the resolution.
  • Angel One Mutual FundTransparency Concern: Attendance details are not available for Board meetings held during FY 2024-25 till the date of the Notice.
  • Axis Mutual FundSurender Sharma, 49, is Whole-time Director – Legal, Company Secretary (from 22 February 2022) and Compliance Officer at Colgate-Palmolive (India) Limited. He has been on the board since 21 May 2020 and joined the company as Associate Director-Legal in 2017. He received a remuneration of Rs. 37.5 mn in FY24 (including commission of Rs. 6.8 mn and Rs. 9.9 mn in stock-based compensation from Colgate-Palmolive Company’s global executive compensation program). As per the proposed terms, his estimated fixed pay and performance bonus for FY26 (excluding stock options) aggregates Rs. 29.4 mn, which can go to a maximum of Rs. 69.5 mn. He is entitled to stock options from Colgate-Palmolive Company, U.S.A. as per Colgate-Palmolive Company’s global executive compensation program, for which there is no guidance provided, nor is there an absolute cap. Therefore, we are unable to estimate his overall remuneration. The company must cap overall remuneration in absolute amounts and quantify/disclose the stock options that he is eligible to receive, including the performance metrics which determine such variable pay. Due to lack of adequate disclosures, we are unable to ascertain his aggregate remuneration and hence do not support the resolution.
  • Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundRe-appointment compliant with law. No concern on the merits of the appointee. Transparency Concern: Attendance details are not available for Board meetings held during FY 2024-25 till the date of the Notice.
  • Invesco Mutual FundSurender Sharma, 49, is Whole-time Director – Legal, Company Secretary (from 22 February 2022) and Compliance Officer at Colgate-Palmolive (India) Limited. He has been on the board since 21 May 2020 and joined the company as Associate Director-Legal in 2017. He received a remuneration of Rs. 37.5 mn in FY24 (including commission of Rs. 6.8 mn and Rs. 9.9 mn in stock-based compensation from Colgate-Palmolive Company’s global executive compensation program). As per the proposed terms, his estimated fixed pay and performance bonus for FY26 (excluding stock options) aggregates Rs. 29.4 mn, which can go to a maximum of Rs. 69.5 mn. He is entitled to stock options from Colgate-Palmolive Company, U.S.A. as per Colgate-Palmolive Company’s global executive compensation program, for which there is no guidance provided, nor is there an absolute cap. Therefore, we are unable to estimate his overall remuneration. The company must cap overall remuneration in absolute amounts and quantify/disclose the stock options that he is eligible to receive, including the performance metrics which determine such variable pay. Due to lack of adequate disclosures, we are unable to ascertain his aggregate remuneration and hence do not support the resolution
  • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)

  21 for9 against

Mutual fund votes, meeting of 30 Jul 2024, 28 fund houses

• To consider and adopt the Audited Financial Statements of the Company for the Financial Year ended March 31, 2024 and the Reports of the Board of Directors and Auditors thereon.

  28 for0 against
• To appoint a Director in place of Ms. Prabha Narasimhan (DIN: 08822860), who retires by rotation and, being eligible, offers herself for re-appointment.

  28 for0 against
• To re-appoint Mr. Mukul Deoras (DIN: 02869422) as a Non-executive Director and Chairperson of the Company for a period of 5 years effective July 30, 2024.

  28 for0 against

Mutual fund votes, meeting of 2 Mar 2024, 29 fund houses

• Appointment of Mr. Sanjay Gupta (DIN : 05100297) as an Independent Director ofnthe Company

  29 for0 against

Mutual fund votes, meeting of 6 Sep 2023, 24 fund houses

• 1 - Appointment of Dr. (Mr.) Indu Bhushan (DIN: 09302960) as an Independent Director of the Company.

  24 for0 against

Mutual fund votes, meeting of 27 Jul 2023, 21 fund houses

Each resolution counts the houses whose vote was matched to it; the rest are listed last.

• To consider and adopt the Audited Financial Statements of the Company for the Financial Year ended March 31, 2023 and the Reports of the Board of Directors and Auditors thereon.

  20 for0 against
• To appoint a Director in place of Mr. Jacob Sebastian Madukkakuzy (DIN: 07645510), who retires by rotation and, being eligible, offers himself for re-appointment.

  ›Against HSBC Mutual Fund

  • HSBC Mutual FundA vote AGAINST this resolution is warranted because the board independence norms are not met, and Jacob Sebastian Madukkakuzy is a non-independent director nominee.

  20 for1 against
• To re-appoint Ms. Sukanya Kripalu (DIN: 06994202) as an Independent Director of the Company.

  ›Against Axis Mutual Fund, Bandhan Mutual Fund, Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, Invesco Mutual Fund, Kotak Mahindra Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund, NJ Mutual Fund, Taurus Mutual Fund

  • Axis Mutual FundMs. Sukanya Kripalu, 62, runs an independent marketing consultancy - Sukanya Consulting through which she provides marketing strategy, brand and advertising development and marketing training services for insurance, white goods jewellery, textiles, branded staples, FMCG and media industries. She serves on the board of four listed companies (including Colgate India). Given their full-time responsibilities, regulations allow whole-time directors of listed companies to be independent directors on a maximum of three listed companies. We believe that as proprietor of Sukanya Consulting, her responsibilities are equivalent to a whole-time directorship. Therefore, her high number of directorships on listed companies is not in keeping with the spirit of the regulation. While she is well qualified, we do not support her reappointment. Further, we believe the company should have sought approval for her reappointment prior to the completion of her term.
  • Bandhan Mutual Fund, Baroda BNP Paribas Mutual Fund, Motilal Oswal Mutual FundRe-appointment is not in accordance with law, no prior shareholders’ approval obtained for re-appointment as ID.
  • Edelweiss Mutual FundLonger tenure of independent director may make director less indipendent. Also directorship in other companies may lead to dilution of focus
  • Invesco Mutual FundMs. Sukanya Kripalu, 62, runs an independent marketing consultancy – Sukanya Consulting through which she provides marketing strategy, brand and advertising development and marketing training services for insurance, white goods jewellery, textiles, branded staples, FMCG and media industries. She serves on the board of four listed companies (including Colgate India). Given their full-time responsibilities, regulations allow whole-time directors of listed companies to be independent directors on a maximum of three listed companies. We believe that as proprietor of Sukanya Consulting, her responsibilities are equivalent to a whole-time directorship. Therefore, her high number of directorships on listed companies is not in keeping with the spirit of the regulation. While she is well qualified, we do not support her reappointment. Further, we believe the company should have sought approval for her reappointment prior to the completion of her term
  • Kotak Mahindra Mutual FundSukanya Kripalu, 62 has over three decades of industry expertise. She is consultant in the fields of marketing, strategy, advertising and market research. Her experience includes working with leading corporations like Nestle India Limited, Cadbury India Limited and Kellogg s India. She was also the CEO of Quadra Advisory, a WPP group Company. The company is proposing to re-appoint her as an Independent Director. Earlier she was appointed from 1st June, 2018 to 31st May, 2023. According to re-appointment of IDs on the Board under Section 149(10) of the Companies Act 2013 the resolution should be passed before her last day i.e., 31st May 2023, hence the re-appointment is not in accordance to the law.
  • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
  • Nippon India Mutual FundShareholder's approval not obtained on time for appointment of director
  • NJ Mutual FundNo prior shareholders’ approval for re-appointment
  • Taurus Mutual FundMs. Sukanya Kripalu, 62, runs an independent marketing consultancy – Sukanya Consulting through which she provides marketing strategy, brand and advertising development and marketing training services for insurance, white goods jewellery, textiles, branded staples, FMCG and media industries. She serves on the board of four listed companies (including Colgate India). Given their full-time responsibilities, regulations allow whole-time directors of listed companies to be independent directors on a maximum of three listed companies. We believe that as proprietor of Sukanya Consulting, her responsibilities are equivalent to a whole-time directorship. Therefore, her high number of directorships on listed companies is not in keeping with the spirit of the regulation. While she is well qualified, we do not support her reappointment. Further, we believe the company should have sought approval for her reappointment prior to the completion of her term.

  10 for11 against

Mutual fund votes, meeting of 28 Jul 2022, 18 fund houses

Each resolution counts the houses whose vote was matched to it; the rest are listed last.

• To consider and adopt the Audited Financial Statements of the Company for the financial year ended March 31, 2022 and the Reports of the Board of Directors and Auditors thereon.

  18 for0 against
• To appoint a Director in place of Mr. Surender Sharma (DIN : 02731373), who retires by rotation and, being eligible, offers himself for re-appointment

  18 for0 against
• Re-appointment of M/s. S R B C & Co LLP, Chartered Accountants, Mumbai (ICAI Firm Registration No. 324982E/E300003) as Statutory Auditors for a second term of five (5) consecutive years

  18 for0 against
• Revision in payment of commission to the Non-Executive Independent Directors of the Company

  ›Against Axis Mutual Fund, Franklin Templeton Mutual Fund, Invesco Mutual Fund, Mirae Asset Mutual Fund, Quantum Mutual Fund

  • Axis Mutual FundWe do not support perpetual resolutions and expect that boards approach shareholders periodically to seek their approval.
  • Franklin Templeton Mutual FundA vote AGAINST this resolution is warranted as the approval will be valid till perpetuity and shareholders will not get to review the payments in the future.
  • Invesco Mutual FundAt the 2019 AGM, shareholders had approved payment of commission, up to 1.0% of net profits to Independent Directors upto Rs. 1.5 mn – the per director limit is being increased to Rs. 2.0 mn from 1 April 2022 In last five years, the company has paid commission to independent directors ranging from Rs. 5.8 mn to Rs. 9.0 mn, maximum payout of 0.09% of standalone PBT. The proposed commission to independent directors is reasonable and in line with market practices. However, the approval being sought is in perpetuity. We do not support perpetual resolutions and expect that boards approach shareholders periodically to seek their approval
  • Mirae Asset Mutual FundAs per advisory recommendation, Passive holding
  • Quantum Mutual FundApproval is being sought for perpetuity. We would prefer a maximum of 5 years.

  13 for5 against
• Appointment of Managing Director and Chief Executive Officer of the Company

  17 for0 against