Reckitt Benckiser: Laxman Narasimhan steps down as CEO, Nicandro Durante appointed
New Delhi: Reckitt Benckiser Group plc has announced that its CEO, Laxman Narasimhan will step down as Chief Executive Officer on September 30, 2022. Laxman has decided for personal and family reasons to relocate back to the United States and has been approached for an opportunity that enables him to live there.
Laxman 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.
Since his appointment in September 2019, Laxman has led a successful rejuvenation of the company's strategy, execution and foundational capabilities.
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Nicandro is a highly experienced CEO who led the transformation of BAT over a nine-year period. 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. Under his leadership, Reckitt will continue to implement its current successful strategy.
Laxman said, "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."
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With immediate effect, Nicandro will cease to be the Senior Independent Director and will step down from the Nomination, Remuneration and CRSEC Committees of the Board.
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.
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