Reckitt Benckiser Group has cut the 2016 pay to Rakesh Kapoor, chief executive of the company, by 39%, following last year safety scandal in South Korea, related to a product safety issue that caused dozens of deadly lung injuries.
The Reckitt Benckiser CEO, Britain’s third highest paid chief executive in 2015, would not receive an annual bonus for 2016. Furthermore the share awards for his long-term incentive plan would be reduced by half.
As a result, Kapoor will be paid £14m for 2016, down from £23m in 2015.
The maker of painkiller Nurofen, Dettol cleaning products, Durex condoms and Scholl footcare products had its performance badly hurted by the scandal.
In January a former executive at Reckitt Benckiser’s South Korean subsidiary was sentenced to seven years in prison over the sale of a disinfectant used to clean humidifiers, which was linked to lung injuries and deaths.
Source: The Guardian