Reckitt Benckiser Group PLC on Wednesday said its Chair Chris Sinclair plans to retire, having completed his full nine-year term at the company.

Sinclair will step down from the board at the consumer goods firm’s 2024 annual general meeting. The meeting is currently scheduled for May.

Sinclair has been with Reckitt for the past nine years, spending the last six as chair.

Jeremy Darroch will succeed Sinclair as chair at the AGM.

Darroch joined Reckitt’s board as senior independent non-executive director in November 2022.

The company called him a ‘seasoned’ non-executive director, having held board positions in Marks & Spencer Group PLC and Burberry Group PLC.

Darroch said: ‘I would like to take the opportunity to thank Chris for his service to Reckitt over the last nearly nine years both as chair and as a non-executive director. His commitment has been absolute and his counsel to the executive and the board has been invaluable.

‘I am delighted that I will succeed Chris as chair. Reckitt is a world-class company with an exceptional portfolio of market-leading, high-margin brands. As a board we are aligned that Reckitt is extremely well positioned to deliver sustainable and sector-leading total returns for shareholders.’

Reckitt shares were up 0.7% to 5,536.00 pence each in London on Wednesday morning.

Copyright 2023 Alliance News Ltd. All Rights Reserved.