16 January 2019 - Deborah Wilkes
Rakesh Kapoor intends to retire as chief executive officer of RB by the end of 2019, after more than eight years in the post and 32 years at the company.
RB said its Board had initiated a formal process to appoint Kapoor's successor, and would consider both internal and external candidates.
Chris Sinclair, chairman of RB's Board, said that under Kapoor's leadership RB had 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," added Sinclair. "He has also developed RB2.0 – an organisation designed for sustainable growth and outperformance."
Kapoor commented that "RB is unrecognisable from the company that I joined more than 30 years ago". "Working together with my colleagues," he said, "we have built a significant global health, hygiene and home player from the roots of the cleaning products business."
"I am very proud of the hard work and commitment of our people in delivering our success and many achievements," said Kapoor.
Transformational two years
"The past two years in particular have been transformational with the acquisition of Mead Johnson," he added, noting this had been the catalyst for the creation of the two business units, Health and Hygiene Home.
"2020 will herald a new decade and I believe now is a good time for new leadership to take this great company through the next phase of outperformance," added Kapoor.
Take out an Annual Subscription to the OTCToolbox website, giving you UNLIMITED ACCESS to all of our publications
* Premium News Stories
* OTCToolbox Innovations magazine NEW IDEAS BETTER WAYS
* OTCToolbox Deals Database
* News Extras
* OTC Deal Trends Briefing
* OTC Company Strategies Report
Helping you and your company make well-informed decisions
CLICK HERE TO FIND OUT MORE