Belfast Telegraph

Upheaval at Reckitt Benckiser as four executives quit

Four executives at household goods giant Reckitt Benckiser are to leave the firm as it looks to bounce back from sluggish sales and a recent cyber attack.

Top dogs at its information technology, human resources, developing markets and marketing have all resigned from Reckitt, which is also behind products such as Durex and Dettol.

It is thought the resignations are not linked and all have quit for separate reasons.

The quartet, Darrell Stein, Deborah Yates, Frederic Larmuseau and Roberto Funari, form part of a 10 member senior executive committee and news of their departures sent shares lower.

Reckitt stock was trading 1% down in midday trading at 7,302p.

The news comes at a time of upheaval at the group.

In July, the firm warned of a permanent hit to sales after a worldwide cyber attack wrought havoc across its factories.

Second quarter like-for-like sales fell 2% after the ransomware attack significantly disrupted its manufacturing and orders systems across a raft of markets, including the UK.

Reckitt is also in the process of integrating recently acquired US baby formula maker Mead Johnson Nutrition, which it bought for 21.2 billion US dollar (£16.3 billion) in an effort to expand its consumer health arm.

The firm has also offloaded food brands including French's mustard and Frank's hot sauces to the maker of Schwartz spices, McCormick, in a 4.2 billion US dollar (£3.2 billion) deal.

Mr Stein will be replaced by PepsiCo information officer Seth Cohen and Ms Yates will see Reckitt man Gurveen Singh step into her shoes.

Replacements for Mr Larmuseau and Mr Funari are yet to be decided.

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