Reckitt Benckiser Group CEO to step down this month
Health, hygiene and home produce company, Reckitt Benckiser Group, says its CEO Laxman Narasimhan will step down from the role on 30 September 30 2022.
He has decided for personal and family reasons to relocate back to the United States.
Narasimhan will be replaced by Nicandro Durante, current senior independent director, who will step into the role of CEO, as the Board evaluates and selects the future leadership.
The chairman and the Nomination Committee have begun the process to identify the best long-term candidate for the CEO position.
Durante is a highly experienced CEO who led the transformation of BAT over a nine-year period. He is familiar with the strategy and direction of Reckitt, having been on the board for a number of years, including several years as the senior independent director.
Chris Sinclair, chairman of Reckitt, said: “On behalf of the entire Board, I want to thank Laxman for leading the organisation through a significant transformation over the last three years.
“We wish him and his family all the very best as he fulfils his desire to return to the United States.
“We are also very fortunate to be able to appoint Nicandro Durante as our CEO. Having worked closely with Nicandro since I joined the Board, I have no doubt he will provide the leadership needed for Reckitt at this important stage of transformation while we find the right long-term leader for the business.”
Durante said: “I am honoured to have an opportunity to lead Reckitt, a company that I have been a part of for many years.
“The transformation agenda Laxman and the Group Executive has led together is exciting and delivering results.”
Narasimhan added: “I am very grateful to have had the opportunity to lead Reckitt. It is a great company with an incredible team and I am extremely proud of what we have accomplished together in these last three years.
“I have been offered an opportunity to return to the United States and although it is difficult to leave, it is the right decision for me and my family.”
With immediate effect, Durante will cease to be the senior independent director and will step down from the Nomination, Remuneration and CRSEC Committees of the Board.
Also with immediate effect, Andrew Bonfield will be appointed as senior independent non-executive director to hold the role for an interim period until Jeremy Darroch joins the Board on 1 November 2022.
