Hotline: 1800 102 2007
Hotline: 1800 102 2007
Mar, 31 2017

Reckitt Benckiser's Chief Executive would not receive an annual bonus for 2016

Reckitt Benckiser Group also said it would strip out the impact of earnings growth from the impending takeover of Mead Johnson from calculations for Kapoor's incentive plan for 2017.

Reckitt Benckiser's Chief Executive would not receive an annual bonus for 2016

British consumer goods maker Reckitt Benckiser Group cut Chief Executive Rakesh Kapoor's 2016 pay by 39 percent, as it seeks to shore up investor confidence following a safety scandal in South Korea that hurt its performance.

The maker of Durex condoms and Scholl footcare products said Kapoor, Britain's third highest-paid CEO in 2015, would not receive an annual bonus for 2016, and that the share awards for his long-term incentive plan would be reduced by half.

As a result, Kapoor will be paid 14 million pounds ($17 million) for 2016, down from 23 million pounds in 2015.

The company also said it would strip out the impact of earnings growth from the impending takeover of Mead Johnson from calculations for Kapoor's incentive plan for 2017.

Reckitt Benckiser has been grappling with the fallout from a scandal related to a product safety issue that caused dozens of deadly lung injuries in South Korea. The South Korean government said in 2015 that 92 people were believed to have died from causes related to humidifier sterilizer products sold by several companies including Reckitt.

In January, the former head of Reckitt's business there was sentenced to seven years in prison.

sharebtn
Comment
user
email
mobile
address
star
Related opportunities
  • About Us: e-Ashwa Automotive Private Limited is one of the leading manufacturers..
    Locations looking for expansion Uttar pradesh
    Establishment year 2017
    Franchising Launch Date 2019
    Investment size
    Space required 750
    Franchise Outlets -NA-
    Franchise Type -NA-
    Headquater Ghaziabad Uttar pradesh
  • Ayurvedic, Herbal & Organic Products
    About Us:  Yogis Ayurveda working since four generations in healthcare sector..
    Locations looking for expansion Punjab
    Establishment year 1980
    Franchising Launch Date 2019
    Investment size Rs. 10lac - 20lac
    Space required 600
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Panchkula Punjab
  • Tea And Coffee Chain
    About Us: CHAI NAGRI" is a one-stop destination for freshly brewed..
    Locations looking for expansion Haryana
    Establishment year 2017
    Franchising Launch Date 2018
    Investment size Rs. 5lac - 10lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Ambala Haryana
  • Men's Clothing
    About Us: BIHAR RUBBER COMPANY LIMITED (BRC Ltd.) is India's leading..
    Locations looking for expansion West bengal
    Establishment year 1978
    Franchising Launch Date 2019
    Investment size Rs. 10lac - 20lac
    Space required 300
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Saltlake West bengal
Insta-Subscribe to
Entrepreneur
Magazine
sme-80x109
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
email
mobile
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities