Rakesh Kapoor to retire from Reckitt Benckiser after eight years in charge
Analysts say the CEO’s departure could lead to a split of the British consumer goods maker
London — Reckitt Benckiser CEO Rakesh Kapoor will retire this year, paving the way for a potential change in strategy or break-up of the British consumer goods maker. The company behind Durex condoms and Enfamil infant formula said Kapoor, 60, would leave by the end of 2019 after more than eight years at the helm and more than three decades with the company overall. Reckitt has begun looking for a successor and will consider internal and external candidates. Indian-born Kapoor is the latest consumer industry chief to hand over the reins in difficult times, marked by slower growth, little pricing power and changing consumer habits. Unilever, Campbell Soup and PepsiCo have all named new bosses in recent months. Through a series of deals, Kapoor sought to transform Reckitt from a British household cleaning company into a global consumer health-care leader. He is also the architect of a plan designed to split the firm into two stand-alone business units, one focused on health and the ot...
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