Reckitt chair Chris Sinclair to step down next year

15th Nov 2023 07:27

(Sharecast News) - Consumer products group Reckitt Benckiser has announced that chair Chris Sinclair will be stepping down from the board next year, and will be replaced by non-executive director Sir Jeremy Darroch.

Darroch, who joined the board as senior independent non-executive director in November 2022, was boss of Sky between 2018 and 2021, and has held board positions at Marks & Spencer and Burberry.

He also worked at Reckitt rival Procter & Gamble for 12 years earlier in his career, working up to become the European finance director of healthcare.

Sinclair will retire as chair following the company's annual generating meeting in May 2024, having completed his full nine-year term, the company said on Wednesday.

"The Reckitt board would like to express its deepest appreciation and gratitude to Chris for his extraordinary contribution, service and leadership during the past nine years, with the last six as chair, and wish him well when he retires from the Board next year," a statement read.

Sinclair oversaw a "significant transformation" of the company and was "instrumental in strengthening the governance and oversight of the board", Reckitt said.

Commenting on his appointment, Darroch said: "I am delighted that I will succeed Chris as chair. Reckitt is a world-class company with an exceptional portfolio of market-leading, high-margin brands. As a board we are aligned that Reckitt is extremely well positioned to deliver sustainable and sector-leading total returns for shareholders."