Rakesh Kapoor to step down as Reckitt Benckiser chief

Reckitt Benckiser announced on Wednesday that Rakesh Kapoor has indicated his intention to retire as chief executive officer by the end of 2019.

The FTSE 100 firm’s chief would be stepping down after more than eight years as CEO, and 32 years at the company.

Its board said it had now initiated a formal process to appoint his successor, considering both internal and external candidates.

“Under Rakesh's leadership, RB has been transformed from a household cleaning business to a world leader in consumer health and hygiene,” said Reckitt Benckiser board chairman Chris Sinclair.

“Rakesh has been both the visionary and the architect behind this strategic portfolio transformation since the mid-2000s.”

Sinclair also noted that Kapoor had developed ‘RB2.0’ - an organisation designed for sustainable growth and outperformance.

“On behalf of the board, I want to express our appreciation for his vision, passion and leadership over his long and distinguished tenure.

“We are now commencing a formal and comprehensive process to appoint a successor, considering both internal and external candidates.”

Rakesh Kapoor himself added that it had been a “huge privilege” to lead Reckitt Benckiser, explaining he was “very proud” of the hard work and commitment of the company’s people in delivering success and a number of achievements.

“The last two years in particular, have been transformational with the acquisition of Mead Johnson, the catalyst for the creation of our two business units, Health and Hygiene, and Home.

“2020 will herald a new decade and I believe now is a good time for new leadership to take this great company through the next phase of outperformance.

“I will remain fully focussed on driving the business until a successor is in place.”