GRAHAM HISCOTT Boss cleans up after cashing in Kapoor goes with a Cillit Bang after making £120m

ONE of Britain’s top fatcat bosses is to quit after making an estimated £120million.

Rakesh Kapoor, chief executive of Dettol and Durex maker Reckitt Benckiser, yesterday confirmed plans to retire at the end of the year after 32 years at the firm and eight years in charge.

Kapoor said it had been a “huge privilege” to run Reckitt. But the 60 year old has also attracted huge criticism as one of the highest-paid chief executives of a FTSE 100 company.

In 2017, he volunteered to give back some of his annual payout, but still got £12.5m.

In 2015, Kapoor trousered a colossal £25.5m, and from 2011 to 2017 he received a total of £85m in pay and perks. His package for 2018 is yet to be announced, but he is entitled to at least £1.25m, and could get at least the same in 2019.

That’s before any bonuses, the main reason for his bumper pay deals in previous years.

Plus he could bank bonuses in the form of up to 490,000 shares, worth nearly £30m at today’s share price, although the actual amount will depend on the firm’s performance.

Reckitt, which also owns Cillit Bang and Scholl, said its share price had doubled under Kapoor’s leadership. However, the stock has tumbled 25% since June 2017, following its £14billion takeover of baby milk manufacturer Mead Johnson.

Russ Mould, an investment director at City firm AJ Bell, said Reckitt had “floundered over the past year or two.”

He added: “If he is leaving of his own free will then he’s not exactly departing when everything is going well.”

Movie chain Cineworld’s UK arm had a less than incredible 2018.The latest MammaMia! and Avengers films, plus Incredibles 2, left, proved a hit.But sales in the UK and Ireland fell 0.6%, blamed on out-of-thisworld box office takings for Star Wars in 2017.Cineworld’s share price tumbled nearly 7% yesterday despite the world’s second biggest movie chain’s US takings – by far its largest market – jumping 8.6%. A number of offers have been made for collapsed music chain HMV, giving hope to it 2,000-plus workers. Administrato KPMG said it would spend the next f days assessing the bids.However, it is clear if there are any offers for all 1 HMV stores, or, as is more likely, they are for smaller chunks of the business.

CRITICISED Rakesh Kapoor