Reckitt Benckiser CEO Laxman Narasimhan to Step Down -- Update

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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