Reckitt Benckiser's chairman is stepping down

 
Caitlin Morrison
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Reckitt Benckiser owns a number of well-known brands (Source: www.rb.com)

Reckitt Benckiser Group has announced its chairman Adrian Bellamy will step down from the board at next year's annual general meeting.

He will be replaced by fellow board member Christopher Sinclair.

Shares in the company dipped by almost one per cent at the open.

The consumer goods group said today that during Bellamy's tenure as chair, RB has "undergone a transformation from a household cleaning company into the global leader in consumer health and hygiene".

RB added that since he took over as chairman "investors have enjoyed a total shareholder return of 823 per cent, compared with 207 per cent for the FTSE 100 as a whole, while over the same period employee numbers have doubled to more than 40,000".

RB, which owns the Durex and Cillit Bang brands, among others, recently warned sales had taken a hit after the Petya ransomware attack in June. The firm has also recently shaken up its top team, with four senior executives on the way out as RB attempts to remedy its sales problem.

"It is a privilege to have served as chairman of this great company and to have worked with many exceptional people to create so much value for shareholders, employees and the communities where we operate," Bellamy said.

"I am delighted that I will pass the baton to Chris at next year's AGM as RB continues to build its leadership in health, hygiene and home. I wish him and all the team the best for future success."

RB's senior independent director, Andre Lacroix, said: "The process to identify a successor to the chairman began some time ago, with an external search firm engaged to recommend appointments to the board who also had the potential to become the next chairman. I am delighted that this process has now culminated with the appointment of an exceptional leader to carry on Adrian Bellamy's work."

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