London — Reckitt Benckiser plans to reorganise its business into two distinct units, one for health and the other for hygiene and home products, as it tries to improve its flagging performance. The maker of Durex condoms, Nurofen tablets and Dettol cleaners announced the restructuring on Wednesday, along with its third-quarter sales figures. The company, once seen as an industry pacesetter due to its strong revenue and profit growth, is having a very tough year, reporting its weakest quarter ever in July, hurt by a series of issues including a collapse of its South Korean business after a safety scandal, a failed product launch and a cyber attack that hobbled its global operations. The British company made the decision to restructure after its June acquisition of US baby formula maker Mead Johnson, which will account for roughly half of the larger health unit’s sales. "Here is the perfect opportunity for us to be able to create a proper leader in consumer health with the expertise a...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.