Reckitt, the parent company of Durex, Dettol and Vanish, has announced its CEO Laxman Narasimhan will step down at the end of month after three years at the helm.
Narasimhan will leave the company on 30 September to return to the USA for “personal and family reasons” has been approached for “an opportunity that enables him to live there”.
“I am very grateful to have had the opportunity to lead Reckitt,” Narasimhan said.
“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.”
The groups current senior independent director Nicandro Durante will succeed Narasimhan, while the group “evaluates and selects the future leadership”.
“I am honoured to have an opportunity to lead Reckitt, a company that I have been a part of for many years. The transformation agenda Laxman and the group executive has led together is exciting and delivering results. I look forward to continuing the momentum,” Durante added.
The group also revealed Andrew Bonfield will also be appointed as senior independent non-executive director, with immediate effect, to hold the role for an interim period until Jeremy Darroch joins the board on 1 November 2022.