Reckitt Benckiser CEO Laxman Narasimhan to leave after three-year stint

Reckitt Benckiser Chief Executive Officer Laxman Narasimhan will step down at the end of September after three years in the role, the company said on Thursday.

Narasimhan, 55, joined the company in September 2019 from PepsiCo and was the first external candidate to take the helm at Reckitt since the maker of Durex condoms and Nurofen tablets was formed in 1999.

He will be replaced by senior independent director Nicandro Durante while the board "evaluates and selects the future leadership", Reckitt said in a statement.

Reckitt, which also makes Dettol and Lysol cleaning products, will continue to implement its current strategy under Durante, the company added.

Narasimhan decided to leave for personal reasons and to relocate to the United States, having been approached with a new opportunity there, Reckitt said without elaborating.

Chairman Chris Sinclair and the nomination committee have started the process to identify the "best" long-term candidate to take Reckitt on its next phase of growth", the company said.