‘Pushing the boundaries of acceptability’: Reckitt Benckiser shareholders up in arms over CEO’s pay in wake of Korea scandal

‘Pushing the boundaries of acceptability’: Reckitt Benckiser shareholders up in arms over CEO’s pay in wake of Korea scandal

Reckitt Benckiser’s shareholders have registered their disgust over a proposed £23.2 million pay package for CEO Rakesh Kapoor, according to a report published by Bloomberg. Some 18 percent of voters rejected the UK-based FMCG manufacturer’s remuneration report and 24 percent spurned its pay policy, with investor Royal London Asset Management stating that the policy ‘pushes the boundaries of acceptability’.

The company’s shareholders weren’t the only ones up in arms over the company’s executive pay. Those suffering the adverse effects of Reckitt Benckiser’s now banned Oxy Humidifier Sterilizer in Korea were also horrified.

“How would such an enormous pay be acceptable when a product his company made killed numerous children and left indelible wounds on the minds and bodies of others who managed to survive?” Kang Chang Ho, head of a victim support organization in Seoul, told Bloomberg.

Kapoor has publicly apologized for the scandal, as well as meeting with victims in person. “Whilst we have made some great strides, we have also made some mistakes. You may have read articles in the media about one of Oxy RB’s products in Korea which has caused deaths and also lung injuries to people. I profoundly regret this and deliver my apology to the victims of the Oxy HS product.”

 

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