Harpreet Saluja
Executive Vice President, Corporate Strategy & Business Development at ECL
Executive
About Harpreet Saluja
Harpreet Saluja, 56, is Executive Vice President, Corporate Strategy & Business Development at Ecolab, appointed in November 2024 and listed among current executive officers in the 2024 Form 10-K . During 2024, Ecolab delivered record performance with reported sales growth of 3%, organic sales growth of 4%, reported operating income margin expansion of 480 bps, and adjusted diluted EPS growth of 28% . In Q3 2025, adjusted diluted EPS rose 13% to $2.07 on organic sales +3%, with segment-level organic growth across Water, Institutional & Specialty, Pest Elimination, and Life Sciences; adjusted TTM EBITDA rose to $3,809.5 million vs. $3,541.5 million a year earlier .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Ecolab | EVP, Corporate Strategy & Business Development | Nov 2024–Present | Senior executive leadership over corporate strategy and business development |
External Roles
No external directorships or public-company roles are disclosed for Saluja in Ecolab’s 2024 Form 10-K executive officer listing .
Performance Compensation
Management Incentive Plan (MIP) — Company framework (applies to executive officers)
| Metric | Weighting example (by role) | 2024 Target/Thresholds | Actual/Outcome | Payout mechanics | Source |
|---|---|---|---|---|---|
| Adjusted Diluted EPS | Primary measure for all officers | Min $5.37; Target $5.82; 140% at $6.12; Max ≥$6.50 | $6.65 (above max) | Straight-line interpolation to 200% for EPS component | |
| Enterprise Goal (commercial average + EPS) | Used for roles with broad P&L impact (e.g., COO, Supply Chain) | 60% commercial average; 40% EPS | Commercial average 123%; EPS 200% → blended 154% | Contributes to capped total payout | |
| Business Unit Goal | Used for business unit leaders | 50% sales growth; 50% operating income growth | Example (Institutional): Sales 179%, OI 191% → 185% | Adds to capped total payout | |
| Individual Goals | Used for staff roles (e.g., CFO, Supply Chain) | Strategic, qualitative objectives | Examples provided for CFO and Supply Chain | Weighted at 30% in example roles | |
| Growth & Impact Modifier | Applies to officers in aggregate | +3%, +6%, +10% or -10% | +10% achieved (subject to 200% cap) | Incremental modifier capped by plan |
Administrative rules include pro-ration for new hires/promotions and eligibility conditions, relevant for executives appointed during the year .
Long-Term Equity Incentives — Company design (applies to executive officers)
| Award Type | Performance/Vesting | Targets/Mechanics | Outcome example | Source |
|---|---|---|---|---|
| PBRSUs | Cliff-vest after 3 years; metric = 3-year average organic ROIC; ±10% TSR modifier vs S&P 500 (cap at 200%) | 2025–2027 organic ROIC: Threshold 11.8%; Target 16.2%; Max 18.4% | Prior cycle (2022–2024) paid 100% at adjusted ROIC result per plan design | |
| Stock Options | 3-year ratable vesting; 10-year term; strike = average of high/low on grant date | Valuation assumptions disclosed (e.g., 12/04/2024 grants: risk-free 4.06%, expected life 6.09 yrs, vol 22.60%, dividend 1.05%) | Value realized depends on post-grant share appreciation |
Company Performance Reference (for context)
| Metric | TTM 2024 | TTM 2025 | Notes |
|---|---|---|---|
| EBITDA ($mm) | $3,796.0 | $3,616.2 | Reported EBITDA decreased YoY |
| Adjusted EBITDA ($mm) | $3,541.5 | $3,809.5 | Adjusted EBITDA increased YoY |
Equity Ownership & Alignment
- Stock ownership guidelines require significant ownership and retention until achieved; CEO/CFO/COO must retain 100% of net shares until compliant, other officers 50%; unexercised options and unvested RSUs/PBRSUs do not count toward compliance .
- Hedging and pledging of Ecolab stock are prohibited for insiders (including executive officers) per Global Insider Trading Policy .
- Directors and executive officers as a group owned ~0.5% of shares outstanding as of March 11, 2025; individual executive ownership for Saluja is not separately disclosed in the proxy .
Employment Terms
- Appointment and tenure: Saluja was appointed EVP, Corporate Strategy & Business Development in November 2024 .
- MIP pro-ration and eligibility: new executive participants are pro-rated in full-month increments, with payments approved post year-end; must be employed on last business day of fiscal year unless retirement/disability/death, with potential pro-rata award .
- Change-in-control policy (double-trigger): for elected officers, severance equals 2x base salary plus target annual incentive, pro-rata actual annual bonus in year of termination, outplacement, and continued medical/dental for up to 18 months; no single-trigger and no tax gross-ups .
- “Cause” definition (stock plan): amended in Dec 2024 to include dishonesty/fraud, serious unlawful activity, intentional material duty breaches, material breach of noncompetition/non-solicitation/confidentiality agreements, and substantial failure to perform after notice/opportunity to cure .
- Clawbacks: Ecolab maintains broader misconduct-based recoupment and NYSE Rule 10D-1 compliant clawback for restatements covering excess incentive-based compensation over prior three fiscal years .
- Additional severance context: for NEOs, case-by-case negotiated severance for discharge not for cause or constructive discharge may include up to two years’ base salary and target annual cash incentive, with potential pro-rated equity acceleration at Committee discretion; company practice outlines options/PBRSU handling .
Fixed Compensation
Company philosophy sets base salaries within the median range of the size-adjusted competitive market, with annual merit reviews and structured progression for new executives; detailed individual salary/bonus amounts for Saluja are not disclosed in public filings .
Investment Implications
- Alignment: Ecolab’s executive pay strongly ties variable compensation to multi-year organic ROIC and adjusted EPS, with capped payouts and a TSR modifier, plus strict hedging/pledging prohibitions and ownership/retention guidelines — signaling robust pay-for-performance alignment and governance quality for senior officers including Saluja .
- Retention risk: As a November 2024 appointee, Saluja’s MIP participation will be pro-rated per plan rules and he is covered by double-trigger CIC economics; these terms mitigate near-term attrition risk while preserving shareholder protections (no single-trigger, no gross-ups) .
- Execution risk vs. value creation: Corporate results in 2024–2025 show strong adjusted EPS and organic growth momentum with rising adjusted EBITDA; strategy roles tied to growth engines and inorganic initiatives should be evaluated against these metrics in future cycles to assess payout sustainability and insider selling pressure once individual Form 4 activity is observable .