UK consumer goods group Reckitt Benckiser has announced a switch of CFO with the appointment of Adrian Hennah into the role.
The French’s mustard producer this morning (17 September) revealed its CFO Liz Doherty is stepping down from the position.
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She will stay with the business until March 2013 and Hennah, currently CFO of global orthopaedics products firm Smith & Nephew, will take up the role from December.
Speaking of Doherty’s departure, CEO Rakesh Kapoor said: “Liz and I have agreed that RB’s and her way of working are not as well matched as either of us would like, and now is the right time for her to move to a new opportunity.”
Investec analyst Martin Deboo views the move as a positive one.
“In our view Doherty had struggled to win acceptance in the investor community and suffered from being appointed prior to CEO Rakesh Kapoor’s accession. In contrast, we hold a positive view on Adrian Hennah and expect Reckitt to be more effectively and cohesively led as a result.”
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By GlobalDataShore Capital analyst Clive Black, however, believes such a change is “disconcerting”.
“We will need to digest this news and make sure that nothing is untoward in the Reckitt camp,” he said in a note.
