Consumer products group Reckitt Benckiser said that chief financial officer (CFO) Liz Doherty will leave in March 2013, as her management style is not “well matched” to the direction in which chief executive officer (CEO) Rakesh Kapoor intends to steer the group. Doherty joined Reckitt Benckiser in February 2011, less than a year before Kapoor succeeded Bart Becht as CEO.
Doherty’s successor will be Adrian Hennah, currently CFO at Smith & Nephew, who will join Reckitt Benckiser at the end of December. Hennah’s previous experience includes 18 years at GlaxoSmithKline (GSK) and he is also a non-executive director of Reed Elsevier.
Reckitt Benckiser indicated last February that, under Kapoor, it would focus more on consumer health and pharmaceutical products and less on traditional household goods. The former are expected to account for 72% of sales from the group’s main units by 2016, against 67% currently.
Data from S&P Global Market Intelligence suggest that the German lender is struggling to meet capital and earnings figures.
The T+2 Industry Steering Committee (T+2 ISC) has welcomed recent action by the Securities and Exchange Commission (SEC) to propose a rule ... read more
However, a London summit on the industry’s introduction of the technology cautions that testing and acceptance are still at an early stage and firms should proceed with caution.
The proposals of both US presidential candidates could shake up operating conditions in several sectors, reports the credit ratings agency.