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Reckitt’s Rakesh Kapoor lands bumper £15.2m payout

The Indian’s payouts have sparked investor anger over the years.

Cillit Bang and Dettol owner Reckitt Benckiser has revealed its female staff are paid 4.5% more than men, but admitted “much more” needs to be done with just a quarter of management posts held by women.
Cillit Bang and Dettol owner Reckitt Benckiser has revealed its female staff are paid 4.5% more than men, but admitted “much more” needs to be done with just a quarter of management posts held by women.

Rakesh Kapoor is celebrating his final year as Reckitt Benckiser boss by counting the near £100 million he has collected in pay since 2011, after new figures showed he pocketed £15.2 million last year.

Mr Kapoor saw his pay increase by around 70% from just under £9 million in 2017, according to Reckitt’s annual report, after reaping the rewards of a bumper bonus.

His £945,209 base salary was dwarfed by a £3.4 million annual bonus and a £10.5 million long-term incentive plan award linked to the Dettol owner’s performance.

Mr Kapoor, who is set to retire at the end of 2019 after 32 years with the group, is one of the highest paid bosses in the FTSE 100.

His latest pay cheque means he has been paid £97.5 million since taking the helm in 2011.

The Indian’s payouts have sparked investor anger over the years, with nearly a quarter of shareholders opposing his £25.5 million award in 2015.

Mr Kapoor joined Reckitt in 1987, becoming senior vice-president of home care in 1999 and working his way up the ranks before being promoted to chief executive in 2011.

He is widely credited with turning around the company’s fortunes.

During his tenure, Mr Kapoor has seen Reckitt’s share price nearly double from £33 to more than £64.

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Chief executive Rakesh Kapoor said the group needs to increase the number of female leaders (PA)

Separately, the Cillit Bang owner revealed its female staff are paid 4.5% more than men, but admitted “much more” needs to be done to increase women in management roles.

In its report ahead of the UK gender pay gap reporting deadline on Thursday, Reckitt said the median figure, the midpoint in the ranges of women and men’s pay, had improved from 0.1% in favour of men in 2017.

But calculated using the mean average, the group said men are paid 7.9% more than women as it said the data was skewed by some highly paid male “outliers”.

The group added that women hold 25% of senior management roles worldwide, leading to a 25.3% gap in bonus payments in favour of male staff.

In the UK, the figures are more encouraging, with 36% of senior management roles held by women, up from 28% in 2017.

Overall, the firm has 3,656 active staff in the UK, of which 41% are women.

Reckitt announced a target to increase the proportion of senior management jobs held globally by women to 40% by 2022 in an effort to address the imbalance.

It also plans to roll out gender pay gap reporting to its top five markets around the world, representing nearly 50% of its global workforce based in the US, the UK, China, India and Mexico.

PA

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