Reckitt's New CEO Wants Immediate Changes As OTC Sales Slump In Q3
RB's new CEO Laxman Narasimhan is unforgiving about how the company has been run over the past few years and believes things need to change after another disappointing quarter.
You may also be interested in...
Reckitt Benckiser's new CEO Laxman Narasimhan has unveiled a turnaround plan which will see the company's OTC drugs and dietary supplements housed in a separate business to its infant nutrition products. RB is investing £2bn to get back on track after a couple of difficult years.
Reckitt Benckiser has poached PepsiCo's global chief commercial officer, Laxman Narasimhan, to replace Rakesh Kapoor as the UK-based firm's CEO. Setting his stall out early, Narasimhan has made clear that RB's "capabilities and culture" need to change to make the company fit for the new digital world.
A "technical problem" interrupted infant formula production at firm's Netherlands plant during third quarter, causing a 8% dive in its revenues from Enfamil and other brand formulas. The problem has been corrected but revenues will be slowed during the current quarter and likely into early 2019. But analysts say the imapct could be deeper impact because it's the fourth problems since 2011 RB should have avoided.