Reckitt Benckiser Says Four Top Executives Leave Amid Overhaul
Reckitt Benckiser’s heads of information technology, human resources, marketing, and developing markets will leave in the company’s biggest management changes since Rakesh Kapoor became chief executive officer in 2011.
The departures of the four senior executives, which were confirmed by spokeswoman Patty O’Hayer by email Monday, come at a time when Reckitt Benckiser is trying to become the “undisputed leader in global consumer health and hygiene,” O’Hayer said.
The exit of Darrell Stein, the head of information services, follows a cyberattack that forced the maker of Durex condoms and Cillit Bang cleaners to cut its full-year sales forecast in July due to disruptions in manufacturing and distribution. Reckitt Benckiser also is wrestling with a decline in baby formula sales after paying $16.6 billion for infant nutrition company Mead Johnson.
Stein will be replaced by Seth Cohen, a PepsiCo Inc. executive responsible for information technology operations across Europe and Sub-Saharan Africa. Roberto Funari, RB’s head of marketing, is leaving after recent Scholl footcare product releases failed to entice shoppers, leading to losses at the unit.
Frederic Larmuseau, RB’s head of developing markets, will become the chief executive officer of Dutch coffee-maker Jacobs Douwe Egberts BV. Bart Becht, the former CEO of Reckitt Benckiser, is the chairman of JDE.
Reckitt Benckiser has estimated it lost 1 percent of annual sales from the cyberattack, which would equate to about 90 million pounds ($117 million). Nivea skin-cream maker Beiersdorf AG said the infected computer systems caused about 35 million euros ($41 million) in lost sales in the first half.