Reckitt shares dive as Becht steps down

14th Apr 2011 11:00

Shares in Reckitt Benckiser took a sharp dive after the FTSE 100-listed maker of household products announced the retirement of its chief executive Bart Becht.The Dutchman, who has been at the helm of the firm since it was formed from the merger of UK company Reckitt & Colman and Dutch firm Benckiser , will hand over the reins to Rakesh Kapoor, currently in charge of the company's 'Powerbrands' strategy, on 1 September. Becht will act as a 'part-time adviser' to Kapoor until September next year.Reckitt's 'Powerbrands' include Finish dishwasher tablets and Vanish stain remover. The firm enjoyed strong profit growth in 2010 as developing markets offset a decline in Europe. "The board is delighted that someone of Rakesh Kapoor's calibre is able to step into the role of chief executive," said chairman Adrian Bellamy. "His close involvement in the drivers of success at RB and significant achievements to date are reassurance that the excellent performance for which RB has become renowned is set to continue."