Reckitt Benckiser Chief Executive Officer Laxman Narasimhan will step down at the end of September after three years in the role, the company said today (1).
Narasimhan, 55, joined the company in September 2019 from PepsiCo and was the first external candidate to take the helm at Reckitt since the maker of Dettol and Nurofen tablets was formed in 1999.
He will be replaced by senior independent director Nicandro Durante while the board "evaluates and selects the future leadership", Reckitt said in a statement.
Reckitt, which also makes Lysol cleaning products, will continue to implement its current strategy under Durante, the company added.
Narasimhan decided to leave for personal reasons and to relocate to the United States, having been approached with a new opportunity there, Reckitt said without elaborating.
"Since his appointment in September 2019, Laxman has led a successful rejuvenation of the company’s strategy, execution and foundational capabilities. The company’s purpose - to protect heal and nurture in the relentless pursuit of a cleaner and healthier world - is, and remains, foundational to the future direction of the company, as do its environmental, societal and governance commitments," the company's statement said.
Chairman Chris Sinclair and the nomination committee have started the process to identify the "best" long-term candidate to take Reckitt on its next phase of growth", the company said.
Nicandro is a highly experienced CEO who led the transformation of BAT over a nine-year period, Ricket said in a statement today (1). adding that he is deeply 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.
