Reckitt Benckiser Shareholders Protest CEO's Pay Package
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Reckitt Benckiser Group Plc shareholders protested the 23.2 million-pound ($33.6 million) pay package for chief Rakesh Kapoor, the latest sign of growing investor discontent at hefty executive compensation.
Almost 18 percent of shareholders who voted rejected the company’s remuneration report, Reckitt Benckiser said in a statement Thursday after its annual general meeting in London. The vote was non-binding, with dissent coming from investors including Royal London Asset Management Ltd, which has said that the company’s pay pushes the boundaries of acceptability. The company’s pay policy was rebuffed by 24 percent of those who voted.