Reckitt Benckiser, the maker of Dettol and Durex, has slashed the pay package for its chief executive after awarding £300m last year in compensation to South Korean families whose relatives died after using its disinfectants.

Rakesh Kapoor, previously the third highest-paid FTSE 100 boss, has had his pay cut by more than a third from £25.5m to £14.6m in 2016, after missing out on a lucrative bonus.

The consumer goods giant formally apologised last year for the toxic discinfectant scandal in South Korea from its Oxy humidifier sanitiser, which resulted in 93 deaths.

Judy Spieser, chair of the remuneration committee, said it had taken the South Korea issue in "the context of pay decisions for 2016", despite Mr Kapoor not being in charge of the business when the scandal happened between 2001 and 2011.