British consumer goods company Reckitt has announced that Chris Sinclair plans to retire as chairman after nine years, and will be succeeded by Jeremy Darroch at the end of its annual general meeting in May 2024.
The latest appointment follows changes in top management at the firm this year. In August, Nike's Shannon Eisenhardt was named finance boss months after insider Kris Licht was appointed CEO-designate.
Commenting on Sinclair's departure, Reckitt said in a statement that its board 'would like to express its deepest appreciation and gratitude to Chris for his extraordinary contribution, service and leadership during the past nine years, with the last six as Chair, and wish him well when he retires from the Board next year.'
During Sinclair's tenure with the business, he oversaw what Reckitt describes as a 'significant transformation', as the business introduced a new company purpose, navigated the COVID pandemic, and strengthened the governance and oversight of its board.
Darroch, who has served on the board of Marks and Spencer, joined Reckitt's board as a senior independent non-executive director last November, the maker of Durex condoms and Lysol cleaning products said.
It described him as an 'outstanding leader, with considerable expertise in the consumer retail environment built up over a successful career at some of the UK's most high-profile companies. He has a proven track record of being a successful CEO and driving business performance and a unique insight into what motivates consumers.'
Darroch currently holds the role of chair of the National Oceanography Centre, it added.
Additional reporting by ESM