Future Of British Business
Lysol Maker Reckitt Jolted by CEO’s Surprise US Departure
- Shares fall 5.7% following exit of CEO Laxman Narasimhan
- Former BAT chief Nicandro Durante to step in on interim basis
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Reckitt Benckiser Group Plc fell after Chief Executive Officer Laxman Narasimhan said he will step down at the end of the month in a surprise move, leaving the Nurofen maker with an interim leader.
The shares’ 5.7% decline in London early Thursday reflects investor disappointment at the departure of a CEO who steadied the UK consumer goods company after a turbulent period under his predecessor.