(News Bulletin 247) – Reckitt reported on Wednesday a “solid start to the year” and announced the appointment of the head of its health branch, Kris Licht, as managing director.
The executive, previously passed by PepsiCo and McKinsey, will take up his new duties by the end of the year, replacing Nicandro Durante, who has held the position on an interim basis since the departure of Laxman Narasimhan for Starbucks, at the last fall.
This announcement comes as the British consumer products group easily beat the consensus in the first quarter by posting organic growth of 7.9%
The owner of the Calgon, Durex and Veet brands, among others, indicates that the effect of its price increases (+12.4%) more than offset the decline in its volumes (-4.5%) in the first three months of the year.
After this performance, the group decided to revise upwards its organic growth target for 2023, now expected between 3% and 5% against around +2.5% previously.
These announcements were received without euphoria on Wednesday morning at the London Stock Exchange, where the title fell by 1.6%.
‘It’s a bit frustrating to see that it took so long to appoint a candidate internally that we already considered the most likely choice six months ago’, RBC analysts react this morning.
Copyright (c) 2023 News Bulletin 247. All rights reserved.
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
