Reckitt Benckiser CEO's Pay Rises on Bonus

By Adria Calatayud

Reckitt Benckiser Group PLC's (RB.LN) Chief Executive Rakesh Kapoor got a 69% pay increase last year thanks to a performance bonus, the company said Tuesday in its annual report.

The owner of the Durex and Lysol brands said Mr. Kapoor's total remuneration for 2018 rose to 15.2 million pounds ($19.9 million) from GBP9.0 million a year before. This followed two years of declines. His 2017 pay was originally set at GBP12.5 million, but a fall in the company's share price reduced the value of his vested shares.

Reckitt Benckiser said the increase was mainly due to a GBP3.4 million bonus reflecting the company's improved performance last year. In 2017, Mr. Kapoor wasn't paid an annual bonus.

Mr. Kapoor's base salary for 2018 was unchanged year-on-year at GBP945,209, Reckitt Benckiser said.

Reckitt Benckiser, whose other brands also include Air Wick fresheners and Dettol cleaning products, in January said Mr. Kapoor will step down at the end of 2019 after eight years leading the consumer-goods company.

Write to Adria Calatayud at [e-mail]

(END) Dow Jones Newswires

April 02, 2019 13:54 ET (17:54 GMT)

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