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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 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. We delivered high single digit to double-digit growth in all geographies in 2022, except for the heavily Lysol impacted areas of North America and ASEAN. Find out more about salaries and benefits at Reckitt. Reckitt Benckiser Group plc's chief executive officer (CEO), Laxman Narasimhan, will relinquish office on September 30. Sept 1 (Reuters) - Reckitt Benckiser (RKT.L) Chief Executive Laxman Narasimhan will step down at the end of September after three years in the role, the company said on Thursday, taking investors by surprise and sending its share price down sharply. We have a leading position in each category with our well-trusted brands. At Reckitt, the highest paid job is a Director of Sales at $229,090 annually and the lowest is a Receptionist at $39,058 annually. The other example is 24/7 Active Fresh. Importantly, our developing market business, unaffected by the U.S. market disruption, grew mid-single digits in the year with market share improvements across all key markets. And we expect clearly our volume trend to improve post quarter one. Reckitt is a global consumer goods company listed within the top 25 of the London Stock Exchange. We're at the right level of inventory, payables and such forth. In a carefully planned effort, we integrated our sales organizations across Health and Hygiene to create a more unified and larger field force. See here for a complete list of exchanges and delays. '22 was a very strong quarter. And as I said before, we still can do better, but I am pleased to see improvements in many fronts. And the exciting times we have ahead of us are something that I really look forward to in the future. Our e-commerce business represents 13% of our total net revenue, and we have plans to further increase this percentage in the coming years. And we also benefit, of course, from a positive foreign exchange rate due to the relative strengthening of the U.S. dollar. Be part of something bigger. But we'll keep an element of that. We are not yet where we want to be, but I'm pleased that the Company continues to make progress with such important stakeholders. Good morning, everyone. We have continued sustainable product innovation program. This rating has been stable over the past 12 months. But I think that the innovation comes to strength of our portfolio, to be able to keep performing as we are performing. So quarter-by-quarter, you'll see further improvement. But growth was broad-based. Good morning, everyone. to let us know you're having trouble. 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. We saw a circa 18% uplift due to the competitor supply issue. Popular. Outside of China, Intimate Wellness grew 10%. 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. As an example, Durex in India is now in 300,000 more stores than it was a year ago, which has been a major contributor to growth of Durex in the year of over 45%. The updated total value of the replacement awards at vesting and the 2020 single total figure will be restated in the 2021 Annual Report as follows: In addition, page 152 of the 2020 Annual Report sets out the CEO pay ratio. So there will be an element of that. Previously wrote about U.S. based retailers, major financial institutions and covered the Tokyo 2020 Olympic Games. Well, good morning, ladies and gentlemen, and it's a pleasure to see so many of you in person. I mentioned the new businesses we've built in InstaSoothe and other brands. The average salary for Reckitt Benckiser, Inc. employees is $87,702 per year. Wall St Week Ahead: Defensives may not be safe place to hide as stock market stumbles, Exclusive: Nvidia's plans for sales to Huawei imperiled if U.S. tightens Huawei curbs-draft, Reporting by Yadarisa Shabong and Chris Peters in Bengaluru Well, we all have heard from Jeff and our three GBU presidents today on our performance in 2022 and our outlook for 2023. Explore our global sites with local content specific to each country. We will continue to grow distribution for our brands, as we land our strengthened innovation pipeline. I'm very proud and very pleased to say the free cash flow improved year-on-year by 773 million to 2 billion in the year, primarily, of course, driven by our strong operating performance. So to summarize, 2022 was a very unusual year, but one where we made significant progress, strengthening our brands in our core markets. I'm delighted to be meeting with all of you today. We have a strong presence in developing markets with our disinfection business, Intimate Wellness brands and a fast-growing smaller VMS and OTC business. Unfortunately, we cannot disclose this exactly what's going to be the size of BEI increase, but most of them will be self-financed. Cash conversion was 83%, a significant improvement from the prior year. This reduces the 2020 single total figure of remuneration (including buyout arrangements) to 8,434,334. We create simple, innovative products that make it easy for individuals, families and communities to live healthier and happier. So the profitability of WIC was actually similar to non-WIC in what we gained, which is a very unique dynamic and is now normalizing, as I said, as of the end of February and won't be material this year. Reckitt Benckiser Group plc (Reckitt) today announces that its CEO, Laxman Narasimhan will step down as Chief Executive Officer on September 30, 2022. But we really don't know what the future season holds, and it's too early to speculate on that. Actually, we had a really big Q4 in '21 as well, as we talked about. But coming out from Q1, we expect to see growth in Lysol, growth in disinfectants as a whole. If there's any change, then we'll come back and we'll give you that update in those intervals. We mentioned before that we still think that quarter one for Lysol is going to have a strong comparator at the beginning of '23. As you mentioned, like-for-like revenue grew 7.6% for the year, and this was a year, of course, when this was weighted towards price growth due to the unprecedented input cost inflation. As we look to 2023, we are well-positioned to sustain this momentum from a larger, stronger base. Brazilian-Italian Durante previously led tobacco giant British American Tobacco (BAT) for eight years until 2019. A free inside look at company reviews and salaries posted anonymously by employees. We delivered double-digit three-year CAGR, and we keep growing at that pace. TO READ THE FULL STORY, SUBSCRIBE NOW NOW AT JUST RS 249 A MONTH. And in 2023, we expect to deliver efficiencies of over 500 million. I'll explain with some examples how this is working. We have a strong global presence. The share ownership requirement will be 200,000 shares and there will be a formal post-employment shareholding requirement, for two years after departure. So let me move on now to EPS. While the numbers look good, they don't do justice to the incredible work done by the team to quickly react to the national prices that took place in order to provide significantly more safe high-quality formula to parents across the country. The innovation is coming, R&D. 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. During the Capital Markets Day in September '21, I told you that we gained 5% penetration with our Lysol laundry sanitizers. Our Standards: The Thomson Reuters Trust Principles. But I now feel we have returned to a more normalized position with working capital at a sustainable level at around minus 11% of net revenue, and we're confident of delivering strong future cash flows and high cash conversion in the coming years. And every time that you come up with innovation, you end up pricing up the innovation, the way of getting price in a good way because you are getting something else to consumers. For Indian consumers, Harpic is synonymous with toilet hygiene. 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 of efficiencies by the end of 2022, a year earlier than our original target. Our target includes -- our targets include a return to growth in our disinfection portfolio from the current performance of around 40% larger base versus pre-pandemic levels. Popular. What are the group's prospects like for 2023 . Now separately, let me just refer to the situation in the U.S. related to the infant formula market. 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. Hygiene net revenue was 6.0 billion for the year, and like-for-like net revenue was down 3.1%. 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. This was a very stable and resilient performance in the face of very high inflationary pressures. As a result of this great progress in 2022, I am proud to highlight to you today a summary of some of the key strengths of our Nutrition business as we enter 2023. Reckitt Benckiser Group plc published this content on 08 April 2021 and is solely responsible for the information contained therein. He will receive benefits in line with Reckitts Remuneration Policy, however he will not receive a pension allowance. We gained or held share in most of our core categories. So that was a high comparator, but we did ship more in Q4 of '22. The price and mix effect at 12% was consistent with quarter three, and group volumes were down 5.8%, similar to quarter three, but with weaker China Intimate Wellness and stronger comps in Health, which, as Nicandro mentioned, on Intimate Wellness, we expect to improve in 2023. 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. 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. It's very early in the year. Sign In. We have delivered a double-digit CAGR over the last three years and now have a business which is 40% larger than pre-pandemic. Pros. - Extensive proactive talent mapping across functions and roles. If you look at share in brands like Mucinex, Strepsils, Lemsip, they are from [indiscernible] against competition. we have wrapped up, we will be delighted to take any questions you may have. 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. Quality of Products/Services. Your question is specifically on hygiene, I understand. In terms of the first question about WIC, non-WIC, you'd like to take it? Of course, categories like hair care, which are very discretionary, you saw 5% price up, 7.5% volume down. Nutrition. We are sorry for the inconvenience. We may -- it would be pretty much dependent in OTC, for example, on the size of the cold and flu season, but we don't see any big movement in retailing. The 66-year old will receive a salary of 1.1 million pounds ($1.3 million) as Reckitt CEO, the company said, adding that he is being appointed on a rolling contract with six months' notice on either side. Salary information comes from 25 data points collected directly from employees, users, and past and present job advertisements on Indeed in the past 36 months. Our brands are available in nearly 200 countries. So they don't suffer that much. 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%. And with a full rollout of our record production system across our factories, we have been able to increase efficiencies across cost sites in 2022 by around 20%. Now I'd like to go through each of our three global business units in turn, starting with Hygiene. All in all, our teams have dealt with the challenges very well. 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. Please. Adjusted operating profit of 1.6 billion was up 24.3% on a constant foreign exchange basis, and margins of 27.5% were up 290 basis points, again reflecting the benefit of the positive OTC mix. I expect, going for '23, considering that the price is going to be much more benign, we expect to have much lower pricing going for '23. pour nous faire part du problme. Back . And now I'm going to hand back to Nicandro. Is this happening to you frequently? Reckitt Benckiser employees rate the overall salary and benefits package 3.9/5 . And something that we have negotiated with customers, has been well received so far. Moving to our Dettol portfolio. Latin America, for example, is almost identical. The single total figure of remuneration (excluding buyout arrangements) remains unchanged at 5,366,489. REUTERS/Phil Noble/Photo Illustration. So, a new CEO will inherit a company with the . We mentioned this to you last year when we initially launched the product. Further details of the Remuneration Committee's decisions and the pay for Reckitt's Executive Directors are set out on pages 134 . I'm the President of the Nutrition business for Reckitt, and I've been working in the industry for over 20 years. Unilever. Join our pursuit for a cleaner, healthier world. A win for our consumers, they enjoy better results as Vanish gets the tough job done and hence keeps clothes looking like new for longer. Of this, 9% came from WIC consumers in states where our competitor holds the WIC contract. I see no reason for that. So we think that's a good position to be in. So to your question about competition intensifying, I think the whole thing of our strategy is all about category growth, okay? Als u dit bericht blijft zien, stuur dan een e-mail A few years ago, we introduced essential mist diffusers in the U.S. By now a $100 million POS segment, and our share is above 90%, and this segment keeps growing. If you look at private label, I know that private label has gained some share during the year. We now have a meaningful presence in the German pain segment and a strong adult offering, which is delivering very good growth there in 2022. So should we be thinking about a smaller headwind to group than the 2.5%? I don't think -- the second question, I'll start from that. So I think that we have all the right moves in order to be where we are. real person. 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. But when we look at the earnings progress, that's been quite limited. We're now generating around $200 million of POS in the U.S. alone. Reckitt was one of the few consumer-goods companies in the most recent earnings season to upgrade its outlook for both sales growth and profitability. We are also very fortunate to be able to appoint Nicandro Durante as our CEO. Like-for-like revenue growth in Q4 was 6.2%. Good morning, everyone, and welcome to Reckitt's Full Year 2022 Results Presentation. You should not underestimate as well the share gains that we have seen in the OTC category. Of course, as we go forward, we're very clear, we're not going to manage a lazy balance sheet. With a growing middle class in developing markets, families are starting to switch from hand washing to using a dishwasher. 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. Distributed by Public, unedited and unaltered, on 08 April 2021 08:49:04 UTC. Firstly, we grew our North American business by around 40% in the year. Hours: 40 hours per week Monday to Friday no weekends Location: Hull, Humberside - East Yorkshire When you see the world as we do, you see the chance to help the world take better c . We also made very good progress regionalizing our supply chain. The updated total value of the replacement awards at vesting and the 2020 single total figure will be restated in the 2021 Annual Report as follows: CEO 2020 remuneration - update to Directors' Remuneration Report, Estimated So that's our view. Now COVID has caused some volatility in our cash flows. But before we proceed any further, I know you are keen to understand more about the progress on the appointment of a longer-term CEO. The overall rating of Reckitt Benckiser is 4.1, with Salary & Benefits being rated at the top and given a rating of 3.9. Disculpa As I mentioned, our categories are pretty well underpenetrated and have massive upside there, too. 51% feel they are paid fairly. As I've mentioned, cost of goods inflation impacted gross margin, which was down 70 basis points to 57.8%. 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. My first question on -- you're saying that you are coming out of the distortion of the past few years for the first time in '23. Since then, we have introduced different tiers of premium-priced thermoformed tablets. Please bear in mind, things are still fluid, and we don't have a crystal ball either. Celine Pannuti from JPMorgan. In the medium term, we expect adjusted operating profit to grow ahead of net revenue, and this means we remain on track to achieve mid-20s margins by the mid-20s. The impact of price and mix for the year was 9.8%, and volumes for the year were down 2.2%. And then the second is on a comment you made, Jeff, around working capital. Yes. Chairman Chris Sinclair and the nomination committee have started the process to identify "the best long-term candidate to take Reckitt on its next phase of growth", the company said. Annual revenues at Reckitt Benckiser have increased 9.2% to 14.5bn as the Dettol and Durex owner increased prices by almost 10%.. The industry leader for online information for tax, accounting and finance professionals. If you look at this year's EPS, it's only marginally ahead of 2018. Growth was driven by a very strong progress in Auto Dish, Fabric Additives and Lavatory Care. We implemented that. As you can see, total revenue at actual exchange rates grew by 12.5% to 14.5 billion. As Nicandro is moving to the UK, he is eligible for relocation benefits. 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. Importantly, POS remained well above pre-pandemic levels, and we exited quarter four with POS in the high 40s above 2021. And those things have been resolved. On to the surface and disinfectant category. And then if we look at the U.S. But it wasn't something we thought was appropriate this year. A perfect example of our win, win, win, win model. I will now hand over to Jeff to take you through our financials in more detail and our outlook for 2023. 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. As Nicandro stated, we're now bigger, a stronger business and will continue to grow now from this expanded base. Half of Reckitt salaries are above $129,256. But if you look at the Nielsen data, you referenced to it, you see actually that the recent week was the first week where POS actually started to stabilize and slightly go up. Found 1,814 of over 5K reviews. Sure, I can take that. ", 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. Quarter four, we had a similar decline in terms of volume that we had in Q3. Moving to OTC. So I expect a better trend going for '23. 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. 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. With the symptoms of COVID becoming more flu-like over time, the lines are blurring between the two. 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 . Nutrition business. But listen, everything that has been put in the business in the last three years, I think that if we look at the numbers in 2022 and if you look at what we expect in 2023, it shows that it's working quite well for shareholders and for us as a whole. - Maintaining TTOA of <25 days for most positions and <45 days for senior positions. We may have innovation in different price points in order to be able to give something for consumers to stick to our brands, to stick to our portfolio. This announcement is made by Catheryn ORourke, Company Secretary, for Reckitt Benckiser Group plc. Sort. I think one of the big inflection points was where we exited our business in China. Lamentamos pelo inconveniente. Reckitt still walking the line as its sales have kept afloat partly thanks to high baby formula sales thanks to a competitor blender. So without any further ado, I'd like to introduce our CEO, Nicandro Durante, to kick things off. Distributed by Public, unedited and . Whilst we deliver a strong 2022, it is important to reflect on the journey we have taken over the last three years following the announcement of our strategy to rejuvenate sustainable growth at Reckitt. So I'm very happy where we are and expect earnings to represent this going forward. The strong equity of our brands, our innovation pipeline and our strengthened go-to-market muscle position us very well to win here. And in fact, it's been relatively immaterial in the last months anyways as shelfs became more stocked with competitive product. 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. Can you talk about where they are across your business? Cost of goods inflation had a more significant impact on Hygiene than our other two business units. Two questions from me. Join the community and see what employees are saying about their salaries. Reckitt Benckiser CEO Laxman Narasimhan. Our work to enable fair society begins with our teams is strengthening inclusion throughout our business. While we still have much to do, we continue to make progress operationally. This is why we are excited about our future and confident about our Hygiene growth outlook. Following publication of PepsiCos proxy report on 24 March, the final calculation of vesting was completed. So is that a sort of maximum or is that a sort of best guess as the outcome at the moment? I have been offered an opportunity to return to the UnitedStates and although it is difficult to leave, it is the right decision for me and my family.". And as we go through the year, we get to speak to you guys quarterly. And this has increased our market share of the non-WIC formula market from 38% at the beginning of '22 to almost 50% in December. 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. So I think those are the things that have really made a big difference for us. [1/3]A Durex condom is seen in a photo illustration in Manchester, Britain, July 31, 2018. Si continas recibiendo este mensaje, infrmanos del problema So the total season is about 13% above a three-year average. Since his appointment in September 2019, Laxman has led a successful rejuvenation of the companys strategy, execution and foundational capabilities. 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. The average Reckitt Benckiser salary is $72,565. And as you are aware, this includes a decline of around 25% in the year for Lysol. We'll go here then. So at an operating margin level, our business in Latin America and ASEAN, the two regions where we're really strong is somewhat similar. What I will say is that I'm very confident that our team has learned how to operate with unusual volatility. 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. Se continui a visualizzare But this performance is also underpinned by innovation, penetration building programs, taking our brands into adjacent categories and new geographies, growing distribution and gaining market share. I know maybe more like 1.5% or 2% this year. Fixed costs or other costs, as we show here, were up 4.7% at constant exchange rates to 3.2 billion. And if you might end up seeing some sort of reduced flu incidence, then what your assumptions are in terms of guidance?