So I think that we have all the right moves in order to be where we are. Under his leadership, Reckitt will continue to implement its current successful strategy. we have wrapped up, we will be delighted to take any questions you may have. So thank you. Is this happening to you frequently? Listen, I'll ask Pat to answer the first question. The first one is for Jeff. Reckitt Benckiser has 43,000 employees, of which 55 are in a leadership position. Nutrition business ex the benefit, it looks like the margin was about 18%. Actually, when you look at the dish category, you see that the premium segments are growing faster than the low-tier segments, and that's simply because the results are much better. Popular; COVID-19 Related; . We create simple, innovative products that make it easy for individuals, families and communities to live healthier and happier. This new product is clinically proven -- provides clinically proven hydration that allows electrolytes to be absorbed faster, thanks to our proprietary blend of amino acids. Having the trust of HCPs is critical as it is the HCPs who interact with parents and help them make the choice of the right formula for their babies. Laxman will be replaced by Nicandro Durante, current Senior Independent Director, who will step into the role of CEO, as the Board evaluates and selects the future leadership. Another example is Vanish, the number one global stain removal. If you have an ad-blocker enabled you may be blocked from proceeding. And then if we look at the U.S. Visit PayScale to research Reckitt Benckiser, Inc. salaries, bonuses, reviews, benefits, and more! So to your question about competition intensifying, I think the whole thing of our strategy is all about category growth, okay? Thank you. And as I said, when you look at the different subsegments of Lysol, we're pretty much growing across the board share except for one segment. Further details of the Remuneration Committee's decisions and the pay for Reckitt's Executive Directors are set out on pages 134 . We're now generating around $200 million of POS in the U.S. alone. Thank you, Jeff. Okay. 24. The work the team did across our supply chain and with all key stakeholders, including the U.S. administration, was exceptional. 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. There is great momentum across the business and we are seeing the benefits come through in its performance. So all in all, that's something that really gives us more confidence in our future as we're accelerating our innovation pipeline. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Reckitt Benckiser Group plc's chief executive officer (CEO), Laxman Narasimhan, will relinquish office on September 30. Nutrition business. Well, good morning, ladies and gentlemen, and it's a pleasure to see so many of you in person. Gross pricing actions across all regions for Nutrition in the year was around 8%. At our Capital Markets Day in September 2021, we made the bold assertion that Dettol has stabilized and that we expect it to sustainably grow the business and deliver at around 40% above pre-pandemic levels. to let us know you're having trouble. Apr 2022 - Present1 year. Moving to air care. We are working very hard on that. 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. World's Most Admired Companies - 2022 Just as it dominates . I've got two follow-ups. So it was a 2.5% uplift. Pilar Rocafort from UBS. Pros. I am therefore pleased that 2022 was a year of delivery and momentum for Reckitt. 2022 was particularly tough for our supply chain team who had to cope with some very strong demands in both our OTC and Nutrition business. The global dishwashing machine penetration is below 15%. We are planning for that. This is perhaps lower than what we would have achieved because we delayed some planned pricing increases in North America during the year, as it wasn't the right thing to do during a national crisis. A lot has happened over the last 12 months. Is the business profitable over there? Look, the strength of the free cash flows significantly improving from last year, which I think is something which I wouldn't say is unique to us, but it's a great indication of the overall strength of the business, means that the net debt-to-EBITDA has come right down to 2.1. Let me give you a flavor on how this is working with just two examples. Like-for-like revenue growth in Q4 was 6.2%. One, our supply chain resilience program led to a good recovery of our backfill rate to 96%, a significant advancement versus previous years. 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.. 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. Our new Vibrant range delivers an improved scent experience using more essential oils and anti-fade technology. envie um e-mail para As Volker highlighted, if you exclude Lysol, which I think that's much less to do with elasticity than high comparators because of COVID, the whole Hygiene portfolio grew pricing was, I think, that around 8% and volume was down 4%. The maker of Dettol and Lysol cleaning products said Narasimhan decided to leave for personal reasons to relocate back to the United States and has been approached for a new opportunity. So BEI is pretty much related to the innovation pipeline that I have. And as we go forward, opportunities for areas like buybacks will come on the table, because we are certainly entering into that territory. Reckitt's like-for-like sales were 28% higher in 2022 compared to 2019, interim CEO Nicandro Durante said. 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. Forbes Lists #373. 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 . We're now left with a much more homogenous business. You seemed to have maybe had a higher level of sell-in in Q3. . enva un correo electrnico a Our productivity muscle remains firmly embedded within the DNA of record and will continue to drive our earnings model in the future. We are united in our focus to further improve our execution muscle in '23 and to provide strong support around our exciting pipeline of innovations that we are going to roll out this year. I wonder if you are satisfied with your white space opportunities from those investments? Specifically, built and led a 3 years, 1.3bn productivity programme, announced by Reckitt's CEO in February 2020, after having successfully led the creation of two autonomous business units and the necessary process and system infrastructure. 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. I think the other thing that's been important is Nutrition is -- or at least infant nutrition is a bit more of a specialized category. It is these high gross margins, which fund investment to support our innovation pipeline, whilst delivering industry-leading operating margins in our segment. There is a current COVID average. Nicandro is being appointed on a rolling contract, this is terminable on either side with six months notice. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. We have continued sustainable product innovation program. And based on your guidance, it looks like '23 will not substantially change this conclusion. Thank you very much for coming over. Reckitt Benckiser Group plc published this content on 08 April 2021 and is solely responsible for the information contained therein. 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. A spokesperson for Reckitt Benckiser (RB) confirmed the top deck . They showed great agility by significantly increasing the volume of products we have been able to ship to our customers. This had a significant impact on top line growth and on our adjusted operating profit margins. A lot of this has to do with being in the right categories. In charge of recruitments for Unilever Bangladesh. And Jeff, our CFO, will then take you through our results, plus our 2023 targets. His salary for 2015 was 23.2 million. 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. There will be more brand investment. I'll explain with some examples how this is working. Harpic's purpose is to improve toilet sanitation, which aligns with the UN SDG Goal Six. It's very non-elastic. That's a nice category to be in. So we do see opportunity. And that's why we mentioned that we have a significant increase in brand investment behind those innovations. Narasimhan will be replaced temporarily by senior independent director and former BAT boss Nicandro Durante while the board "evaluates and selects the future leadership", Reckitt said in a statement. The hikes contributed to like-for-like growth of 7.6%, which was offset by a 2.2% decline in volumes. We have a fantastic carryover going for the '23 because the majority of the price was taken at the beginning of the second half. 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. Found 1,814 of over 5K reviews. "It's disappointing to someone who has followed the stock for a long time," said Ashish Sinha, portfolio manager at Reckitt shareholder Gabelli. Almost 18% of shareholders who voted rejected the company's remuneration report, Reckitt Benckiser said in a statement Thursday after its annual general meeting in London. Reckitt Benckiser Group plc manufactures and sells . Sure, I can take that. Now COVID has caused some volatility in our cash flows. Finally, we'll be entering into the fast-growing medical rehydration solution market. Second, we have a clear and consistent consumer category growth model in place. This improvement in net debt, underpinned by strong free cash flow, has enabled us to deleverage to 2.1x adjusted EBITDA from 2.6x. Supported by innovation, supported by distribution gains. And then the final one is for Nicandro. As CEO of Reckitt Benckiser Group plc, Nicandro will receive a salary of 1,100,000. See the latest news and investor news from Reckitt. I have been to many markets since I started as a CEO, and it has been a delight to see the engagement and the energy of our teams around the world exhibited every day, day in, day out, making Reckitt a great place to work. Auto Dish has enormous penetration upside. Cycle-sync doses consecutively, delivering better results in a more sustainable way as we use 20% fewer chemicals. I'm letting you know because this is already in the market, it's public knowledge. para informarnos de que tienes problemas. The pay ratio excluding the value of the buyout arrangements remains unchanged at 1:113. Reckitt Benckiser, Inc. employees with the job title Finance Manager make the most with an average . This is a consequence of our drive for greater household penetration, which Dettol led to outperformance in the category by landing differentiated innovation like our Dettol four-in-one pods in China and Dettol Botanicals, trusted germ protection now with 100% plant-derived actives. Just on the margin ex -- the underlying margin ex the Nutrition, you said that that's sort of flat to slightly up. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. If you look at share in brands like Mucinex, Strepsils, Lemsip, they are from [indiscernible] against competition. Also sponsored Reckitt's strategic PLM programme and ERP transformations. I'm delighted to be meeting with all of you today. Growth was driven by a very strong progress in Auto Dish, Fabric Additives and Lavatory Care. Our in-market competitiveness remains strong with around 62% of our core CMUs on whom we are gaining share during the year, and we increased our share of total distribution points. I don't see any big movement in retailers stocking. Reckitt is a well-invested resilient business with a clear strategy and purpose, a strong and evolving culture, an excellent portfolio of leading brands and a dynamic and engaged leadership team. Half of our managers at Reckitt are women and a third of all senior leaders. It was in the Southern Hemisphere, and it now is in the Northern Hemisphere. Reckitt Benckiser has reverted to its original structure in India of one executive head for the geography, elevating Gaurav Jain as the overall chief of the company in the country four years after it had split the business into healthcare and hygiene revenue streams. Reckitt Benckiser's Chief Executive Rakesh Kapoor got a 69 percent pay rise last year, following an improvement in the company's performance after three tough years. I was wondering if you could talk a little bit more about what has enabled that? Multinational consumer goods company Reckitt Benckiser on Thursday said its Chief Executive Officer Laxman Narasimhan will step down at the end of September after three years in the role. If I didn't have those innovations coming to the market, we don't see an additional BEI. Reckitt has always been best-in-class in terms of working capital. On Thursday morning, the company said Narasimhan will return to the US for family reasons. For Indian consumers, Harpic is synonymous with toilet hygiene. Now let me zoom into the U.S., by far Lysol's biggest market. At Reckitt Benckiser, the U.K.-based consumer goods giant, Indian . And those things have been resolved. And now I'm going to hand back to Nicandro. Actually, I think innovation that brings consumer value is always at a good timing and can always come faster. 2020 saw a massive working capital inflow as we went through the pandemic. There was a question about the overall underlying margins of our infant formula business. Last year alone, more than 20%, driven by increased go-to-market coverage, strengthened brand building, and our new premium 10x line. Although there are important differences between ASEAN and LATAM and North America, how we go to market is much more homogenous, and that's allowed us to really drive focus and strengthen our go-to-market capability, particularly with how we interact with professionals. I cannot be precise how much it's going to be. read more. In terms of the first question about WIC, non-WIC, you'd like to take it? And taken together, these three categories currently make up over 80% of our portfolio. Neither Narasimhan nor Durante responded to requests for comment via their LinkedIn accounts. Reckitt Benckiser CEO Laxman Narasimhan to step down . I'm the President of the Nutrition business for Reckitt, and I've been working in the industry for over 20 years. "I am honoured to have an opportunity to lead Reckitt, a Company that I have been a part of for many years. Dettol grew net revenues two out of the four quarters of the year, including in Q4. This rating has been stable over the past 12 months. Becht, however, received the same pay as 3,000 of Reckitt Benckiser's staff last year . Now let me explain why. So we have a strong, category-focused innovation pipeline, and we have much more headroom to grow penetration like on laundry sanitizers. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. It put the resilience and grit of our teams to test, and they have risen to the challenges, as our people do. So just maybe one clarification. But underlying, we see opportunities to continue to improve the margins on that business. Since 2021, all core categories have delivered mid-single to double-digit revenue CAGRs. The British consumer goods . Harpic's largest market is India, where we have a 78% market share. Now I'd like to look at the breakdown of group margins in a little bit more detail. For Reckitt, specifically, we have also seen unprecedented demand for a number of our products, causing more pressure on our supply chain, normalization of disinfection business as we left off COVID comps, and of course, the departure of our CEO, Laxman Narasimhan. A free inside look at Reckitt salary trends based on 1580 salaries. So that will be our second answer. This has led to strong category growth over the last three years. Thank you, Pat. We have here a question and then we go to you. Both innovations are designed to grow the category as they deliver superior consumer delight at a premium pricing per dose. Since then, we doubled it to 10%. Three years ago, we started our journey to rejuvenate sustainable growth at Reckitt. naar During the Capital Markets Day in September '21, I told you that we gained 5% penetration with our Lysol laundry sanitizers. And we have also increased by 25% the numbers of consumer first-party data records, which provide us valuable direct connection with our consumers. So I expect a better trend going for '23. Now we have five members of our Global Executive Committee presenting to you today, following which they'll be happy to take any Q&As that you may have. We exist to protect, heal and nurture in the relentless pursuit of a cleaner, healthier world. For net revenue, we target continued momentum with mid-single-digit like-for-like growth for the group, excluding the impact of the competitive supply issue in our Nutrition business in 2022, which, as I mentioned, was approximately 2.5% on 2022 like-for-like net revenue performance. The remaining 9% uplift has come from parents outside of the WIC program who increasingly have chosen our brands. Our DNA is to create and grow categories through consumer-preferred innovation and growing penetration. Sort. 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. Sie weiterhin diese Meldung erhalten, informieren Sie uns darber bitte per E-Mail We delivered a year of strong revenue growth and profit delivery and free cash flow. Be part of something bigger. Nutrition. So moving on now to Nutrition. And something that we have negotiated with customers, has been well received so far. Yes. Importantly, POS remained well above pre-pandemic levels, and we exited quarter four with POS in the high 40s above 2021. So I think that the majority of our categories are not inelastic. I think one of the big inflection points was where we exited our business in China. The other example is 24/7 Active Fresh. Leverage has fallen to around 2x. On to the surface and disinfectant category. 70% Approve of CEO. For those of you who might not have met yet, we have Volker Kuhn, our President for Hygiene; Kris Licht, our President for Health; and Pat Sly, our President for Nutrition. Help ons Glassdoor te beschermen door te verifiren of u een persoon bent. Yes, on Lysol, first of all, even if you compare versus pre-pandemic, we have grown volume nicely in the double-digit area. Our growth continues to grow very nicely, and we have much more headwind -- headroom, not headwinds, tailwinds -- headroom, and growth also with the innovation that is coming. Ajude-nos a manter o Glassdoor seguro confirmando que voc uma pessoa de We exist to protect, heal and nurture in the relentless pursuit of a cleaner, healthier world. With immediate effect, Nicandro will cease to be the Senior Independent Director and will step down from the Nomination, Remuneration and CRSEC Committees of the Board. Reckitt still walking the line as its sales have kept afloat partly thanks to high baby formula sales thanks to a competitor blender. Moving to our Dettol portfolio. . 6. Volume growth was strong, up 6.5% for the year, with the impact of price and mix of 8.2% for the year, of course, benefiting from favorable sales mix from OTC, which grew over 35% in the year. So first one on the OTC market. And also anything you can say about the profitability of that part of the business? Thank you, Nicandro. It won't be easy to comp this strong performance, but we are up for the task. You can judge that at the end of the year, which obviously means, from a free cash flow perspective, it was roughly minus 400 million this year, and that gives us a benefit from a free cash flow perspective next year. Lists ranking Reckitt Benckiser. para nos informar sobre o problema. 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. per informarci del problema. This has historically been a consistent mid-single-digit growth business, but was impacted significantly by the well-documented competitor supply issue last year. The industry leader for online information for tax, accounting and finance professionals. Let me, Iain, address the guidance question. And thank you, Nicandro. So there will be consequences. While we still have much to do, we continue to make progress operationally. So that's really what we do. This is why we are excited about our future and confident about our Hygiene growth outlook. With a growing middle class in developing markets, families are starting to switch from hand washing to using a dishwasher. Since then Reckitt has enjoyed a boost from pandemic-driven sales of its disinfectant and cleaning products, which has been tapering off, as well as the US formula shortage. The single total figure of remuneration (excluding buyout arrangements) remains unchanged at 5,366,489. Reckitt Benckiser salary statistics is not exclusive and is . Mexico's Best Employers (2022) Packaged Goods #477. . Cost of goods inflation had a more significant impact on Hygiene than our other two business units. How would we balance that? 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. We now feel we're stable. I know maybe more like 1.5% or 2% this year. Reckitt Benckiser employees earn an average salary of $72,565 in 2023, with a range from $43,000 to $121,000. 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. And a win for us for growing mid to high single digits. For those of you that have followed us for a while, you will know that we entered the pain category here a number of years ago with our product, Nurofen for Children, in order to create the Nurofen equity in the market. The Chairman and the Nomination Committee have begun the process to identify the best long-term candidate to take Reckitt on the next phase of its growth and transformation journey. In the case of supply chain, I have to say that we have done that. We have a strong presence in developing markets with our disinfection business, Intimate Wellness brands and a fast-growing smaller VMS and OTC business. Yes, I'm not going to comment too much on trading in Q1, but I can say that, as I said in the presentation, we shipped a lot more OTC volume than we have historically done. I look forward to continuing the momentum. Is the guidance for the division effectively predicated on an average season for cold and flu in '23? Jeff is going to take the second one. Good morning, everyone. We lost, what, 20 basis points for private label last year in Hygiene; we gained 20 basis points in Health. As I've mentioned, cost of goods inflation impacted gross margin, which was down 70 basis points to 57.8%. So is that a sort of maximum or is that a sort of best guess as the outcome at the moment? Of course, as we go forward, we're very clear, we're not going to manage a lazy balance sheet. 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. 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. And so we've strengthened our capabilities in terms of understanding that category and understanding the unique dynamics of that flywheel beyond where it was a couple of years ago. Laxman Narasimhan, who left his position at Reckitt Benckiser to join Starbucks as its CEO, is likely to earn about $17.5 million in annual payout if he reaches his targets. If you continue to see this So there will be an element of that. And fourth, we earned industry-leading margins, thanks to the strength of our brands, our category growth focus and our best-in-class productivity programs. All in all, our teams have dealt with the challenges very well. We create simple, innovative products that make it easy for individuals, families and communities to live healthier and happier. A perfect example of our win, win, win, win model. ($1.3 million) and is eligible to participate in the annual bonus plan with a target of 120% of salary, among other benefits. Rakesh Kapoor, the third highest-paid FTSE 100 chief executive in 2015, had his pay cut more than a third last year as Reckitt Benckiser bowed to shareholder pressure by denying him a bonus and . The impact of price and mix was 14.8%, which reflects also a mix benefit from a higher proportion of non-WIC sales in the U.S. compared to WIC sales. 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 . As Volker said earlier, an important driver of both our growth and category growth is innovation. 2020 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. Reckitt Benckiser Group Plc, as its next CEO, choosing a consumer-industry veteran to build on the new path charted by Howard Schultz.. Narasimhan, 55, will join the coffee giant Oct. 1 while . Narasimhan, 55, joined the company in September 2019 from PepsiCo (PEP.O) and was the first external candidate to take the helm at Reckitt since it was formed in 1999. We are now close to 90% regionally sourced. I'm very pleased that adjusted operating profit reached 3.4 billion, up 9.2% versus last year at constant currency with a margin of 23.8%, up 90 basis points versus 2021. Yes. It has certainly been an interesting year for our business in 2022. So there was a pre-COVID average. RB is blessed with incredibly talented people with an owner driven mindset. 86% Approve of CEO. Geographically, our Health business is well-balanced across developed and developing markets. It's Iain Simpson from Barclays. It's been obviously a stellar year this year. Reckitt is a global consumer goods company listed within the top 25 of the London Stock Exchange. We delivered double-digit three-year CAGR, and we keep growing at that pace. Popular. The 66-year old will receive a salary of 1.1 million pounds ($1.3 million) as Reckitt CEO, the company said, adding that . But if you look at quarter one for Lysol against quarter four, quarter three, you see further improvement. So therefore, we really are very confident that post quarter one, we return back to growth on Lysol. There have been significant geopolitical events, and we have all faced inflationary conditions, unseen for many years. With the product shortage now broadly resolved, as of the end of February, the WIC program has normalized. So to summarize, 2022 was a very unusual year, but one where we made significant progress, strengthening our brands in our core markets. In which case, okay, nice. 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? Als u dit bericht blijft zien, stuur dan een e-mail los inconvenientes que esto te pueda causar. Let me take the first question. See Reckitt salaries collected directly from employees and jobs on Indeed. So that was a high comparator, but we did ship more in Q4 of '22.