LONDON — Rakesh Kapoor, group chief executive officer of consumer goods group Reckitt Benckiser, which owns Lysol, Dettol and Vanish, is to step down by the end of the year from after eight years at the helm. The announcement is the latest in a series of management changes at JAB Holdings, which owns companies as diverse as Reckitt, Coty, Bally and Krispy Kreme.
The board has not announced a replacement, and Reckitt said in a statement that the group is considering both internal and external candidates for the role.
“It has been a huge privilege to lead RB and I am very proud of the hard work and commitment of our people in delivering our success and many achievements. 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 focused on driving the business until a successor is in place,” Kapoor said.
Kapoor has been with the company for 32 years, and during his tenure had gradually put the focus on consumer health over household products. In 2017, they acquired Mead Johnson, a manufacturer of baby formula, for 17.9 billion pounds, and the created new business units at the group, health and hygiene, and home.
“Under Rakesh’s leadership, RB has been transformed from a household cleaning business to a world leader in consumer health and hygiene. Rakesh has been both the visionary and the architect behind this strategic portfolio transformation since the mid-2000s,” said Chris Sinclair, chairman of the board.
“On behalf of the board, I want to express our appreciation for his vision, passion and leadership over his long and distinguished tenure,” Sinclair added.
RB is owned by JAB Holdings, parent of Coty Inc., which owns Cover Girl, Rimmel and Bourjois, among other brands. Coty has undergone a major leadership shakeup, with former ceo Camillo Pane resigning from the company in November, following chief financial officer Patrice de Talhouët out the door. Earlier this year, it was announced that Coty’s consumer beauty president Laurent Kleitman is departing the company. He was hired 20 months ago to oversee the struggling division.
Just a few days ago, Bart Becht, the chairman of JAB Holding, said he would retire. His departure that comes only a few months after he stepped down as chairman of Coty.