British consumer goods giant Reckitt Benckiser on Wednesday named PepsiCo executive Laxman Narasimhan as its next chief executive officer, to succeed Rakesh Kapoor.
Narasimhan, PepsiCo’s global chief commercial officer, will join Reckitt as CEO-designate and be appointed to the board on July 16. He will become group CEO on Sept. 1, the company said in a statement.
Narasimhan joins Reckitt at a time the company is struggling with slower growth, little pricing power and changing consumer habits.
Unilever, Campbell Soup, British American Tobacco and PepsiCo have all named new CEOs in recent months, charging a new generation to rekindle growth as the industry heavyweights try to fight back against media-savvy upstarts.
Narasimhan’s initial priorities will be to boost performance, especially in the health business, and to drive the Lysol maker’s plan to split into two separate business units…