Reckitt Benckiser CEO Laxman Narasimhan to Step Down -- Update
01 September 2022 - 5:27PM
Dow Jones News
By Michael Susin
Reckitt Benckiser Group PLC said Thursday that Chief Executive
Officer Laxman Narasimhan has decided to step down with effect from
Sept. 30.
The consumer-goods company--which houses Dettol, Harpic and
Durex among its brands--said Senior Independent Director Nicandro
Durante will be CEO in the interim until the board finds a
successor.
Mr. Durante has served as CEO of British American Tobacco PLC
over a nine-year period and is familiar with the strategy and
direction of Reckitt Benckiser, the company said.
The company added Mr. Durante will receive a salary of 1.1
million pounds ($1.3 million) and is eligible to participate in the
annual bonus plan with a target of 120% of salary, among other
benefits.
Write to Michael Susin at michael.susin@wsj.com
(END) Dow Jones Newswires
September 01, 2022 03:12 ET (07:12 GMT)
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