Household products group Reckitt says incoming CEO Kris Licht will take over the role fully from the beginning of October.
Investors on the London Stock Exchange were told that current CEO Nicandro Durante will stay on with the firm until the end of the year to aid a transition. Mr Licht was previously president of Reckitt’s health business and chief customer officer.
The global firm responsible for brands such as Nurofen and Air Wick, which has its origins in Hull, said Mr Licht had been pivotal in setting the direction of the company and returning the health division to a strong growth trajectory. He joined Reckitt from food giant PepsiCo, where he held senior leadership positions.
Meanwhile, Mr Durante, who was appointed in late 2022, has delivered near 8% revenue growth at Reckitt. First quarter results announced earlier show increases across all of the firm’s three key divisions: hygiene, health and nutrition.
Group like-for-like revenue was reported at £3.9bn for Q1 with the expectation that net revenue growth for the full year will reach +3 to +5%. Mr Durante said the ambition was underpinned by Reckitt’s strong innovation programme, a resilient supply chain and “ongoing executional improvements”.
At the time of his appointment in April, Mr Licht said: “It is an honour to have been appointed as the next CEO of Reckitt. Over the past four years I have been privileged to be a part of the transformation journey and have seen the extraordinary ownership, entrepreneurial spirit and drive for performance that our people demonstrate every day.
“As our recent performance shows, it is clear we are delivering, and after significant investment we are well positioned to generate consistent, strong shareholder returns. While there is more work to be done to realise our full potential, I see strong momentum and believe it is truly an exciting time for Reckitt.”
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