Reckitt Benckiser Group PLC Directorate Change (9188K)
September 02 2019 - 8:00AM
UK Regulatory
TIDMRB.
RNS Number : 9188K
Reckitt Benckiser Group PLC
02 September 2019
2 September 2019
RECKITT BENCKISER GROUP PLC
DIRECTORATE CHANGE
Reckitt Benckiser Group plc ("RB") today announces that Rakesh
Kapoor has retired from the Board with immediate effect. This
follows the previously announced appointment of Laxman Narasimhan
as CEO with effect from 1 September 2019.
As also previously announced, Mr Kapoor will retire from the
Company at the end of the year, until which time he will be
available to support Mr Narasimhan with the transition.
Financial Information
As required by section 430 (2B) of the Companies Act 2006, it is
confirmed Mr Kapoor has not and will not receive any payment for
loss of office as a Board Director.
His remuneration arrangements on leaving are as set out in RB's
2018 Annual Report, and are reconfirmed as follows:
-- Until the end of his employment with RB on 31 December 2019,
Mr Kapoor will receive his salary, benefits and pension in
accordance with the Company's Remuneration Policy and the terms of
his service agreement.
-- Mr Kapoor is eligible for an annual bonus payment in respect
of the 2019 financial year, which will be subject to RB performance
over 2019 and payable at the time bonuses are paid to other RB
employees. There will be no deferral applied.
-- The 2017-2019 and 2018-2020 LTIP awards will remain subject
to performance against the original performance conditions over the
respective three-year performance periods. Both of these awards
will then be subject to a two-year holding period following the end
of the respective performance periods.
-- The 2018-2020 LTIP award will be reduced pro-rata to reflect
the proportion of the performance period that Mr Kapoor is employed
for. There is no time pro-rating applicable to the 2017-2019 LTIP
award as he will be employed for the whole performance period.
-- No 2019-2021 LTIP award was made to Mr Kapoor.
-- Mr Kapoor will retain an interest in 216,666 shares and
433,333 share options which may vest subject to performance and
then will be subject to a holding period for at least two years
after departure.
For further Information:
Rupert Bondy
Company Secretary
Tel +44 (0) 1753 217 800
Richard Joyce
SVP, Investor Relations
Tel. +44 (0)1753 217 800
About RB:
RB* is a leading global health, hygiene and home company
inspired by a vision of the world where people are healthier and
live better. Its purpose is to make a difference by giving people
innovative solutions for healthier lives and happier homes.
Through its two business units, Health and Hygiene Home, RB has
operations in over 60 countries and its products reach millions of
people globally every day. Its trusted household brands include
names such as Enfamil, Nutramigen, Nurofen, Strepsils, Gaviscon,
Mucinex, Durex, Scholl, Clearasil, Lysol, Dettol, Veet, Harpic,
Cillit Bang, Mortein, Finish, Vanish, Calgon, Woolite and Air
Wick.
RB's drive to achieve, passion to outperform and commitment to
quality and scientific excellence is manifested in the work of over
40,000 diverse, talented entrepreneurs worldwide.
For more information visit www.rb.com
*RB is the trading name of the Reckitt Benckiser group of
companies
Reckitt Benckiser Group plc's LEI code is
5493003JFSMOJG48V108
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London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
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contact rns@lseg.com or visit www.rns.com.
END
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