Newspaper article The Journal (Newcastle, England)

Reckitt Chief's Bonus Is Cut ( but Still Comes in at Pounds 2.1m

Newspaper article The Journal (Newcastle, England)

Reckitt Chief's Bonus Is Cut ( but Still Comes in at Pounds 2.1m

Article excerpt

The boss of household products group Reckitt Benckiser saw his bonus fall by 26pc last year after failing to hit the top end of his targets.

However, chief executive Bart Becht's bonus still came in at pounds 2.1m and contributed to a total pay package of pounds 3.6m, the firm's annual report showed. Although net income increased by 20pc last year, the company behind brands such as Dettol, Harpic and Lemsip did not fully meet the same performance targets as in 2003.

As well as the pounds 700,000 drop in his bonus, Mr Becht's basic salary fell to pounds 811,000 from pounds 950,000 previously. He also got pounds 402,000 in pension contributions and pounds 344,000 in benefits and other payments.

The 48-year-old's total remuneration package came in at pounds 4.2m in 2003 when the company substantially exceeded targets and he was rewarded with a bonus worth 360pc of his basic salary ( the maximum possible. Bonus payments are based on net revenue and net income growth. …

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