Sector movers: Reckitt dampens household goods sector

14th Apr 2011 14:27

The departure of chief executive officer Bart Becht has sent the share price of Cillit Bang owner Reckitt Benckiser lower, resulting in the household goods sector being the worst performing sector of the day.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.Japanese broker Nomura suggests that the market was expecting Becht to stay in the role for some time yet, and will question the succession planning and timing following the departure of the long-term serving and well-regarded chief financial officer Colin Day announced in October. Meanwhile, the best performing sector is the food producers and processors sector with palm oil plantation developer Asian Plantation providing a lift. The firm posted its first revenues in the year to 31 December, but saw losses widen as it ramped up investment in land and planting of seedlings. "2010 has been a transformational year for the company," joint chief executive Dennis Melka said. ---bcTop performing sectors so far todayFood Producers & Processors 5,203.06 +1.02%General Retailers 1,668.14 +0.65%Construction & Materials 4,158.98 +0.60%Real Estate Investment & Services 1,583.35 +0.44%Insurance (non-life) 1,619.62 +0.29%Bottom performing sectors so far todayHousehold Goods & Home Construction 6,151.76 -4.56%Automobiles & Parts 4,683.15 -1.57%Mining 26,486.81 -1.55%Banks 4,775.29 -1.38%Forestry & Paper 6,166.60 -1.29%