19 Sep 2017 07:00
Adrian Bellamy to retire at 2018 AGM, to be succeeded
by Christopher Sinclair
Reckitt Benckiser Group plc (RB) today announces that Adrian Bellamy has decided to retire as non-executive Chairman effective from the 2018 Annual General Meeting, when he will also retire from the Board. Christopher Sinclair, who has served on the Board since 2015, will take on the role of non-executive Chairman at that time.
During Adrian Bellamy's tenure as Chairman, RB has undergone a transformation from a household cleaning company into the global leader in consumer health and hygiene. Adrian has overseen a number of strategic transactions, including the acquisition of BHI, SSL, Adams, and most recently Mead Johnson, as well as the divestitures of Indivior and French's. Since he took over as chairman, investors have enjoyed a Total Shareholder Return of 823%, compared with 207% for the FTSE 100 as a whole, while over the same period employee numbers have doubled to more than 40,000.
Chris Sinclair is recognised as an exceptionally strong and experienced business leader combining both strategic and operational capability, and brings deep knowledge of the consumer goods sector and international markets. His extensive track record in developing trusted consumer brands around the world and deep experience in emerging markets make him ideally suited to lead the next phase of RB's future.
During his career, as President and CEO of PepsiCo's food and beverage division, he was responsible for strengthening and extending the brand internationally. He led a significant transformation of the business that saw it double in size. More recently he has served as Chairman and CEO of Mattel Inc., bringing a strong focus on innovation, e-commerce and quality.
As part of the transition, Mr Sinclair has also been appointed as Chairman of the Nomination Committee, and Mr Bellamy is stepping down from the Nomination Committee, with immediate effect. Mary Harris, as incoming Chair of the Remuneration Committee, is also joining the Nomination Committee with immediate effect.
Adrian Bellamy, RB Chairman, said: "It is a privilege to have served as chairman of this great company and to have worked with many exceptional people to create so much value for shareholders, employees and the communities where we operate. I am delighted that I will pass the baton to Chris at next year's AGM as RB continues to build its leadership in health, hygiene and home. I wish him and all the team the best for future success."
Chris Sinclair said: "RB is an outstanding company with leading brands and a very strong sense of purpose. I would like to pay tribute to Adrian's leadership and stewardship which has contributed to RB's success over many years. The company has a strong track record of outperformance and as a Board we will continue to have a clear focus on maximizing the opportunities to outperform in the future.
Andre Lacroix, RB's Senior Independent Director, said: "The process to identify a successor to the chairman began some time ago, with an external search firm engaged to recommend appointments to the Board who also had the potential to become the next chairman. I am delighted that this process has now culminated with the appointment of an exceptional leader to carry on Adrian Bellamy's work.
The Board would like to thank Adrian for his extraordinary contribution and service and wish him well when he retires from the Board next year. We have every confidence in the company's prospects for the future."
Reckitt Benckiser Group plc's LEI code is 5493003JFSMOJG48V108
Enquiries
For further information, please contact:
RB +44 (0)1753 217 800
Richard Joyce - SVP, Investor Relations
Patty O'Hayer - Head of Communications and Government Affairs
Brunswick +44 (0)207 404 5959
Gabrielle Silver / David Litterick
Notes to editors:
About Chris Sinclair
Chris was appointed as Non-Executive Director in February 2015 and has held a number of executive and non-executive positions during his career. Most recently he has served as CEO and Chairman of Mattel Inc. and is now the Executive Chairman, until May 2018.
Prior to this he was Executive Chairman of Scandent Holdings, the India-focused Business Process Outsourcing group that he founded, and Executive Chairman of Cambridge Solutions Ltd, which later acquired Scandent. He has also held senior roles at Caribiner International, Quality Foods Centers and PepsiCo. He spent more than 15 years at PepsiCo, culminating in both CEO and Chairman positions of the Pepsi-Cola Company and President and CEO of PepsiCo Foods & Beverages International and Pepsi-Cola International.
Chris is a graduate of the University of Kansas (Business Administration) and the Tuck School at Dartmouth College.