I was till Sept 2019 Global CEO of RB (Reckitt Benckiser), a 13 billion global leader in consumer health and hygiene company, with Powerbrands such as Enfamil, Dettol, Lysol, Nurofen, Durex, Finish, Vanish and Strepsils. Under his leadership, Reckitt will continue to implement its current successful strategy. Reckitt Benckiser Group plc (OTCPK:RBGPF) Q4 2022 Results Conference Call March 1, 2023 8:00 AM ET, Nicandro Durante - Chief Executive Officer, Volker Kuhn - Chief Transformation Officer, Kris Licht - President of Health business and Chief Customer Officer, Pat Sly - President of Nutrition Business. I look forward to continuing the momentum. I wonder if you are satisfied with your white space opportunities from those investments? The share ownership requirement will be 200,000 shares and there will be a formal post-employment shareholding requirement, for two years after departure. That's one thing that I'd like to say. What we've decided this year is to significantly 5% increase in the dividend. A win for our customers. For those of you I haven't had the chance to meet, my name is Pat Sly. And if you might end up seeing some sort of reduced flu incidence, then what your assumptions are in terms of guidance? To know first hand how is it like to work at Reckitt Benckiser read detailed reviews by job profile, department and location in the reviews section. And how should we think about those trends into the first half? We had single-digit inflation. It is pleasing to see our people leaving our cultural values and bringing their true service to work each day. And also anything you can say about the profitability of that part of the business? The pay ratio excluding the value of the buyout arrangements remains unchanged at 1:113. The first is on the brand investments. Sign In. As we look to 2023, we are well-positioned to sustain this momentum from a larger, stronger base. Unilever. Our continued focus on these areas have enabled ongoing ESG performance against key ratings such as MSCI, Sustainalytics, and ongoing efforts for good presence. And our teams have become much, much better, much more adept at navigating that. So that was a high comparator, but we did ship more in Q4 of '22. One, our supply chain resilience program led to a good recovery of our backfill rate to 96%, a significant advancement versus previous years. And what we have also seen in previous crisis is that there is normally always two areas that win and one that's losing. Also sponsored Reckitt's strategic PLM programme and ERP transformations. CEO Laxman Narasimhan. Reckitt Benckiser Overview and Company Profile | AmbitionBox I know maybe more like 1.5% or 2% this year. Now separately, let me just refer to the situation in the U.S. related to the infant formula market. We now feel we're stable. Salaries posted anonymously by Reckitt employees. But in summary, our pricing action, favorable mix, especially due to stronger OTC sales, and our excellent productivity initiatives meant we recovered some 90% of the cost of goods inflation during the course of the year. We have continued sustainable product innovation program. Would you consider launching buybacks in the near future? Now very quickly, it would be wrong not to mention our productivity program, and you've seen the benefit of that truly coming through in our gross margins this year. Our work to enable fair society begins with our teams is strengthening inclusion throughout our business. And now I'm going to hand back to Nicandro. From a portfolio perspective, we have our core Infant Formula and Child portfolio led by our Enfa family of brands, and we are particularly strong in the fastest-growing segment within this portfolio, products that improve digestion. We're now left with a much more homogenous business. Now we're not giving specifics as to whether we take -- what percentage of that we retain because clearly, Abbott will come back into the market very strong and fight very hard to gain back market share. Yes, it's similar -- it's not that dissimilar to North America. He will receive benefits in line with Reckitts Remuneration Policy, however he will not receive a pension allowance. This reduces the 2020 single total figure of remuneration (including buyout arrangements) to 8,434,334. We expect record cost inflation in 2023 to moderate with single-digit increases, and we have the benefit of the heavy lifting on pricing already implemented with significant carryover now into 2023. Two, thanks to our strengthened go-to-market capabilities, more and more customers are recognizing us as a top-tier supplier. Reckitt Benckiser's <RB.L> chief executive Rakesh Kapoor got an 18 percent pay cut in 2017, his second in two years, due to a halving of his long-term incentive benefits, after a year of . Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Senior Vice President Reckitt Latam Health & Nutrition- 1y Report this post Report Report. Reckitt Benckiser (LON: RKT) CEO Laxman Narasimhan Stepping Down Upon joining Reckitt, and as previously announced on 6 August 2019, Laxman Narasimhan, Chief Executive Officer, received awards to compensate for remuneration arrangements forfeited upon leaving PepsiCo, his previous employer. It was in the Southern Hemisphere, and it now is in the Northern Hemisphere. 45. Reckitt Benckiser's Bart Becht takes home 90m - The Telegraph Reckitt Benckiser Shareholders Protest CEO's $33.6 Million Pay So we think that's a good position to be in. This reduces the 2020 single total figure of remuneration (including buyout arrangements) to 8,434,334. Visit PayScale to research Reckitt Benckiser, Inc. salaries, bonuses, reviews, benefits, and more! - Maintaining TTOA of <25 days for most positions and <45 days for senior positions. Hygiene net revenue was 6.0 billion for the year, and like-for-like net revenue was down 3.1%. So the volumes in Europe, New Zealand, Australia, they have deteriorated in the Q4 at around minus 8%. So we do see opportunity. Of the other 1.25%, we'd expect to keep an element. But that's why we also invest behind it. A lot of things are coming next year as well. But what is important to me is our internal post survey, where we ask and receive a direct feedback from employees on working at Reckitt. For Indian consumers, Harpic is synonymous with toilet hygiene. Our brands are available in nearly 200 countries. We have delivered a double-digit CAGR over the last three years and now have a business which is 40% larger than pre-pandemic. Thank you, Nicandro. To Reckitt's Next CEO Don't Wreck It - The Washington Post So some of these opportunities are really in our plans and we are looking at that. This had a significant impact on top line growth and on our adjusted operating profit margins. We target further broad-based growth across the business, whilst recognizing that we still have to lap the sustainable portion of gains from the competitor supply chain in our U.S. nutrition business. Both innovations are designed to grow the category as they deliver superior consumer delight at a premium pricing per dose. And then second question is on retailer inventories. First, we have world-class brands in each of the attractive categories we play in. See the latest news and investor news from Reckitt. Whilst momentum and delivery will continue, we must get better. Find investor information and see what the media are saying about Reckitt. We are learning with that. The average Reckitt Benckiser salary is $72,565. . We have always operated in categories with a significant runway for long-term growth with trusted market-leading brands. I'm delighted to be meeting with all of you today. Whether you saw any kind of destocking in the latter part of '22, or whether there are actually areas where the retailers are still kind of quite short of stock? You should not underestimate as well the share gains that we have seen in the OTC category. It is a great Company with an incredible team and I am extremely proud of what we have accomplished together in these last three years. Reckitt Benckiser Group plc ("Reckitt") today announces that its CEO, Laxman Narasimhan will step down as Chief Executive Officer on September 30, 2022. "It's disappointing to someone who has followed the stock for a long time," said Ashish Sinha, portfolio manager at Reckitt shareholder Gabelli. Our transformation is bearing fruits. But I can assure you that with our leading brands and stronger reputation with health care professionals, including being the number one recommended brand by pediatricians in the U.S., we will be fighting hard for every new parent who enters the category in 2023 and beyond. And what I can say now is that, yes, we see further opportunities across the world to improve the way that we execute, the way that we reach consumers, the way that we interact with customers. So my question is on the turnaround in the infant nutrition business in the emerging markets, which is great to see after so many years. So that's why we believe it's actually still good timing. Intimate Wellness had a strong year despite weakness in China due to the extended COVID-related lockdowns. There are no buyout awards or sign on bonuses for Nicandro. Our strong performance in 2022 and solid plans for 2023 would not be possible without being able to deliver for our customers and our consumers. In China, we identified an opportunity to leverage Dettol's strong position in the laundry sanitizer segment with the laundry pod differentiated with Dettol's strong germ protection. This has led to strong category growth over the last three years. There will be more brand investment. Nutrition business. It's very early in the year. Some of our key launches include the following: the enhancement of our Enfa brand range with the continued addition of HMOs or human milk oligosaccharides that help support immunity. So, a new CEO will inherit a company with the . Reckitt Benckiser Group Plc (IW 1000/286) shareholders protested the 23.2 million-pound (US$33.6 million) pay package for chief Rakesh Kapoor, the latest sign of growing investor discontent at hefty executive compensation. Reckitt Benckiser salary statistics is not exclusive and is . Reckitt loses a problem-solver CEO just as it was finding its footing RANK 100000. And the receptivity of customers was, to your point, extremely positive, because they believe in our ability to grow the categories, attract consumers, as we have done that in the past. The shape seems to have been roughly the same, which is an unusually early and sharp spike in flu, which then sort of tapered off. If we had not, we wouldn't be where we are today, because the level of disruption that we experienced in the business in the last three years has been phenomenal. Yes, as I think was clear from Pat's presentation, the full effect last year was 2.5%, of which half of that we gave up straight away. Why is that the right level? That's a nice category to be in. We have a very strong productivity program coming in '23, and it is going to find us the increase in BEI, to be honest with you. So there will be consequences. Once we have wrapped up, we will be delighted to take any questions you may have. Long-Term Investment Value. Of this, 9% came from WIC consumers in states where our competitor holds the WIC contract. But demand is high. No further disclosure obligations arise under paragraphs 9.6.11 or 9.6.13 of the UK Listing Authority'sListing Rules in respect of this appointment. What we've been through in the last three years is anything but normal. It is difficult to know exactly how much of this increased share we will retain. But coming out from Q1, we expect to see growth in Lysol, growth in disinfectants as a whole. Like-for-like growth for the year was 14.7% and 6.7% for the quarter with much stronger comps in the fourth quarter of last year. This is why we are excited about our future and confident about our Hygiene growth outlook. Apply online for Careers at Reckitt: Human Resources Jobs, Supply Jobs, Marketing Jobs, Finance Jobs, Legal Jobs, Manufacturing Jobs, Sales Jobs, IT Jobs, Manufacturing Jobs, and more. Pay is salary, bonuses, etc. But I would be quite interested to gauge a bit your visibility on effectively the potential for the division -- disinfectant platform to be growing this year. Nicandro Durante - Chief Executive Officer We have more work to do here, but I'm very encouraged by the progress that we are making. Adjusted operating profit margin of 23.1% was up 710 basis points, and this reflects our turnaround and improvement in our earnings model in the developing markets, plus the positive leverage benefit from the U.S. The work the team did across our supply chain and with all key stakeholders, including the U.S. administration, was exceptional. Importantly, POS remained well above pre-pandemic levels, and we exited quarter four with POS in the high 40s above 2021. Laxman Narasimhan cleaned up Reckitt Benckiser Group Plc but he's not staying around to admire the shine at the maker of Dettol and Durex. So we've given the guidance, the clear guidance of underlying margins, ex the 80, to be flat or slightly up. Bart Becht, the chief executive of Cillit Bang-maker Reckitt Benckiser, was paid more than 90m last year in a remuneration deal that will see him clean up in the FTSE 100 executive pay league. And it's too early to call this a rebasing of the category, but it certainly looks to us to be stabilizing well above pre-pandemic levels. ein Mensch und keine Maschine sind. Let's start from there. Durex maker Reckitt announces surprise CEO departure - Yahoo Dettol maker Reckitt Benckiser announces 'surprise' departure of CEO Finally, we'll be entering into the fast-growing medical rehydration solution market. So turning to Health. Competition in Hygiene categories have intensified in recent years. Reckitt Benckiser salaries are collected from government agencies and companies. The long-term share award vested at 52.6% of target on 25 March and the long-term cash award was paid at 110% of target in March 2021. Now we generate almost 60% of our revenues with these new formats. Over the past three years, we've increased household penetration by 10%, grown market share by over 180 bps, and achieved a good balance of growth between price and volume. So thank you. 1,593 salaries (for 648 job titles) Updated 3/1/2023. We haven't been able to introduce prices last year because of the situation that we were there when the price has gone through already. We have a fantastic carryover going for the '23 because the majority of the price was taken at the beginning of the second half. And in OTC, was there any reason -- or has there been any reason to top up inventories at retailers more than usual in what all in Q1? Reckitt Salaries | Comparably . I think one of the big inflection points was where we exited our business in China. Reckitt Benckiser's sales volumes slide as demand for disinfectant wanes So was there any extra top-up that has occurred in Q1 that's going to help, please? For example, in India, we started the year with a goal to increase our direct reach to customers by around 50%. Reckitt Benckiser | Company Overview & News - Forbes So I will say, regardless of the shape of the season, I feel confident that we will be good stewards of the P&L and that we will make good operating decisions to navigate it. Join our pursuit for a cleaner, healthier world. Jeff is going to take the second one. We have reached 32% household penetration, and we are growing revenues in double digits. What gives you confidence that your industry-leading margins will not come under pressure from an evolving competitive environment? I think that's unheard of in the last years. And also, we have a great pipeline of innovation, mainly Hygiene. las molestias. Popular. Cash conversion was 83%, a significant improvement from the prior year. Als u dit bericht blijft zien, stuur dan een e-mail A free inside look at Reckitt salary trends based on 1580 salaries. So we have a strong, category-focused innovation pipeline, and we have much more headroom to grow penetration like on laundry sanitizers. So quarter-by-quarter, you'll see further improvement. I was wondering if you could talk a little bit more about what has enabled that? Thank you, Jeff. I last loved the stock up just over four months ago and since then it has gone almost perfectly sideways. So finally, let's turn to the outlook for the year. Company Participants. Lysol is an outstanding brand. As you can see, total revenue at actual exchange rates grew by 12.5% to 14.5 billion. The two areas that are winning is the high tier, where you get better value, then some dent on the very low tier or smaller sizes and the mid-tier is the one that is struggling. Territroy Manager for pharmacy business manager Rekitt Benckiser (Former Employee) - London, Greater London - 31 October 2021. Your question is specifically on hygiene, I understand. Rakesh Kapoor - Wikipedia If you continue to see this And similarly on margin, we're not uncomfortable with consensus on margin, which implies, yes, we'll keep an element of that 80 basis points. Our Standards: The Thomson Reuters Trust Principles. His salary for 2015 was 23.2 million. That is a question about profitability. The first one, Kris, would you like to take it? Is this happening to you frequently? My second question on innovation, and I think it's probably more in Hygiene, that seems to be more on the premium side, which I think about air care, if I think about the Auto Dishwash, just wanted to see how you see the reception with retailers, but how you see that as well with the current environment and private label discussions. We added 1.1 billion in revenues. I think we just mentioned OTC. But we do see that COVID is becoming endemic. los inconvenientes que esto te pueda causar. Quality of Products/Services. Salaries at Reckitt Benckiser, Inc. range from an average of 23,828 to 78,013 a year. Sort. Our best-in-class program continues to deliver with efficiencies of 800 million during the year, enabling us to achieve our target of 2 billion gross margins this year. Harpic's purpose is to improve toilet sanitation, which aligns with the UN SDG Goal Six. There have been significant geopolitical events, and we have all faced inflationary conditions, unseen for many years. Consequently, despite pricing and a strong productivity performance, adjusted operating profit at 1.2 billion was down 18% at constant exchange rates and at a margin of 20.4%, down 330 basis points. Anne Engrant's Post - LinkedIn I talked about our -- out of this category, we are holding share, but we're growing double digits. And as I said before, we still can do better, but I am pleased to see improvements in many fronts. Then after a few brief insights from me, our three global business unit presidents will talk to you about highlights from 2022 and our focus for 2023. Now I'd like to go through each of our three global business units in turn, starting with Hygiene. Reckitt Benckiser Salaries in India | AmbitionBox This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018. How could the leader of a company that makes an array of mundane household products, like Dettol, Air-Wick and Strepsils, be worth so much And given the healthy state of our balance sheet, I'm delighted that the Board has approved a 5% increase in our total dividend for 2022 with the aim of delivering sustainable dividend growth in future years. The transformation agenda Laxman and the Group Executive has led together is exciting and delivering results. And Jeff, our CFO, will then take you through our results, plus our 2023 targets. It needs to be taken with due process and diligence as we find the best person to take this great company on the next stage of this journey. And as we go forward, opportunities for areas like buybacks will come on the table, because we are certainly entering into that territory. See here for a complete list of exchanges and delays. Having worked closely with Nicandro since I joined the Board, I have no doubt that he will provide the leadership needed for Reckitt at this important stage of transformation while we find the right long-term leader for the business.. Yes, as you said, it has been a very strong season. In the case of supply chain, I have to say that we have done that. Our developing markets team also did a great job in 2022, turning around our business during the year and into growth for the very first time under Reckitt's ownership, and the results speak for themselves with 100% of our core CMUs now holding or gaining share. So that's really what we do. But the profitability on that WIC was similar to non-WIC. Based on the final calculations of the CEO pay as set out above, the pay ratio compared to the median UK employee reduces from the 1:194 estimated in the report to 1:177. But I was pleased with our broad-based growth in 2022, with all our Health regions in growth for the year, including those without a large OTC business. Reckitt Benckiser employees earn $65,000 annually on average, or $31 per hour, which is 2% lower than the national salary average of $66,000 per year. By focusing on these areas, I believe we are in a good place to grow by mid-single digits in 2023, excluding the impact of the competitor supply issue in the United States. 2,963 Reckitt reviews. Thank you very much for coming over. Good morning, everyone. Sure, I can take that. Lamentamos Aiutaci a proteggere Glassdoor dimostrando che sei una persona reale. And now we're running -- in most of the markets that we track that data pretty closely where we compete, we're running just above average levels. If I didn't have those innovations coming to the market, we don't see an additional BEI. And then the second question, just thinking through the headwind from U.S. infant formula unwind in '23. And we have an exciting innovation pipeline for the years to come. ", The British consumer goods group raised its annual revenue forecast in July after steep price increases helped the company to beat its second-quarter sales expectations. So -- and we think that level of around minus 11% is the right level in terms of having the right levels of inventory, the right level of safety stock, the right service levels into the trade, having the right terms with our suppliers and not extending small suppliers too far. The total value of the vesting of these awards, relating to legacy arrangements implemented by his previous employer, was 3,067,845, a reduction of more than 800,000 from the estimate in the 2020 Annual Report. And then the second is on a comment you made, Jeff, around working capital. The impact, as I mentioned, of which was 80 basis points on a group basis, the group adjusted operating margins. We also have a meaningful presence in the fast-growing specialty segment, comprising mainly of products that address allergies, led by our Nutramigen brand. And as we go through the year, we get to speak to you guys quarterly. Exercised is the value of options exercised during the fiscal year. But there are a lot of work in progress in order to streamline the operation and be more effective. Durex and Strepsils Maker Reckitt Says Cost Inflation Has Peaked I'm happy to extend the large suppliers, but we have a responsibility towards the small suppliers and obviously collecting our cash in a timely manner. Starbucks Names Reckitt Chief Laxman Narasimhan as Next CEO TO READ THE FULL STORY, SUBSCRIBE NOW NOW AT JUST RS 249 A MONTH. 51% feel they are paid fairly. The second one, in terms of pricing, I think that Pat has mentioned, we are moving to a price increase at the beginning of February, February 1, double digit. Moving to OTC. Reckitt has invested significantly behind organic and inorganic growth opportunities in recent years. World's Most Admired Companies - 2022 Just as it dominates . We've said we're not uncomfortable with consensus, which assumes we keep a little bit of that 80 in 2023. Nutrition business, and this is a best-in-class performance. Our Nutrition business is a 2.5 billion business based primarily in five markets where we have strong market shares of greater than 20%, established infrastructure, and leading go-to-market capabilities. Starbucks new CEO Laxman Narasimhan background | Fortune It was led by our OTC portfolio, where we both drove strong market share gains across the majority of our brands and benefited from a long, strong cold and flu season. It's been long. Global Competitiveness. Half of our managers at Reckitt are women and a third of all senior leaders. You see tax rates going up a little bit, but I see no reason, going forward -- earnings is going to be a nice steady growth. And as previously communicated, we did not proceed with planned price increases in the U.S. once we learned of the competitor recall in February '22. We are looking for opportunities whenever we can. Nutrition impact during the year. With this innovation, Enfa becomes the only product with MFGM, expert-recommended levels of DHA, and HMOs, delivering on the benefits that parents want most: better mental development, digestion, and immunity. As expected, Lysol's trend improved through the year. Gross pricing actions across all regions for Nutrition in the year was around 8%. Now this was due to reduced investment in Russia and the fact we did not increase our BEI spend in proportion to net revenue growth in two key areas: U.S. message, contactez-nous l'adresse The other example is 24/7 Active Fresh. The ratio between the CEO and the average global employee reduces from the 1:199 estimated in the report to 1:182; the pay ratio excluding the value of the buyout arrangements remains unchanged at 1:116. In developing markets, we strengthened our reputation with health care professionals, or HCPs, during the year. Dettol grew net revenues two out of the four quarters of the year, including in Q4. Importantly, we keep improving how we leverage data, technologies, partnerships and our scale. The 66-year old will receive a salary of 1.1 million pounds ($1.3 million) as Reckitt CEO, the company said, adding that . LONDON, March 1 (Reuters) - Reckitt Benckiser (RKT.L), maker of Dettol and Lysol cleaning products, on Wednesday marginally beat full-year like-for-like net revenue expectations, helped by higher . Be part of something bigger. Reckitt Benckiser Group today announced that its CEO Laxman Narasimhan will step down from his position on September 30, 2022, and will relocate to the United States, for personal and family reasons. Wenn But I think that I saw Volker stand there, because Volker should be -- some of the -- who would like to complement my speech? With respect to our Biofreeze acquisition, due to increased discount rates resulting from the current macroeconomic conditions, and the short-term category slowdown, we've recognized this year an impairment charge of 152 million. As this performance was not known at the date Reckitt finalised its 2020 Annual Report (15 March 2021), the value of the awards was estimated, as set out on page 146 of the report. I'm aware that the events of 2022 have created a lack of visibility for 2023. Can you talk about where they are across your business? Further details of the Remuneration Committee's decisions and the pay for Reckitt's Executive Directors are set out on pages 134-157 of the 2020 Annual Report. And we continue to embed our sustainable ambitions with our business through our brands, in our supply chains, and in communities where we work. Further details of the Remuneration Committees decisions and the pay for Reckitts Executive Directors are set out on pages 134-157 of the 2020 Annual Report. With a growing middle class in developing markets, families are starting to switch from hand washing to using a dishwasher.
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