ein Mensch und keine Maschine sind. 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. Editing by Krishna Chandra Eluri, Matt Scuffham and David Goodman, Exclusive: Russia set to mothball damaged Nord Stream gas pipelines - sources, Exclusive: IndiGo pits Boeing against Airbus in record jet order talks, Air Canada pilots decry 'embarrassing' pay gap with U.S. after Delta deal, Ford looking at ways to boost gas-powered F-150 production, Exclusive news, data and analytics for financial market professionals. We lost, what, 20 basis points for private label last year in Hygiene; we gained 20 basis points in Health. So finally, let's turn to the outlook for the year. In the United States, our market share of non-WIC, i.e., the formula which parents choose and pay for themselves, is just under 50%, up from around 38% at the beginning of 2022. The company said it would target like-for-like net revenue growth of mid-single digits for 2023, excluding the substantial boost its 2022 sales received from the recall of a rival's infant . So we have a strong, category-focused innovation pipeline, and we have much more headroom to grow penetration like on laundry sanitizers. We have here a question and then we go to you. 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. 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. The 66-year old will receive a salary of 1.1 million pounds ($1.3 million) as Reckitt CEO, the company said, adding that . 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. In line with the Remuneration Policy, bonus payments and LTIP awards will be pro-rated for time employed. In developed markets, we are more weighted to our OTC portfolio. It's early in the year. Available in nearly 200 countries, our brands are loved and trusted by people all over the world. The pay ratio excluding the value of the buyout arrangements remains unchanged at 1:113. 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. 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. We delivered double-digit three-year CAGR, and we keep growing at that pace. So the total season is about 13% above a three-year average. So it's a little bit of a strong flu season, but we expect the brands to continue to grow with that kind of pipeline of innovations that we have. Following publication of PepsiCo's proxy report on 24 March, the final calculation of vesting was completed. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. They enjoy significantly higher POS and margins per load -- detergent load alone. Global Competitiveness. We delivered broad-based mid-single-digit growth across our portfolio, except for Lysol. This reduces the 2020 single total figure of remuneration (including buyout arrangements) to 8,434,334. Ci I don't think -- the second question, I'll start from that. Since 2021, all core categories have delivered mid-single to double-digit revenue CAGRs. "I am honoured to have an opportunity to lead Reckitt, a Company that I have been a part of for many years. So I'm very happy where we are and expect earnings to represent this going forward. Nutrition and for our cold and flu products. Over the next three years, Reckitt has grown at an average of 8.2% on a like-for-like net revenue basis or 7.4%, excluding the benefit from a temporary competitor supplies issue in the U.S. 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. Let me, Iain, address the guidance question. They expect to announce a permanent CEO later this year, by the way. Of course, categories like hair care, which are very discretionary, you saw 5% price up, 7.5% volume down. I will now provide you with a few highlights from 2022. Both innovations are designed to grow the category as they deliver superior consumer delight at a premium pricing per dose. Is the political environment back where you can take price increases now with the consumer? We're now seeing the returns on this investment. 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. 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. Lamentamos pelo inconveniente. For the year, we delivered like-for-like revenue growth of 7.6% and adjusted operating margins of 23.8%, or around 23%, excluding the temporary mix and volume leverage benefit from the competitor supply issue in our U.S. And as I said before, we still can do better, but I am pleased to see improvements in many fronts. Third, we continue to strengthen our capabilities everywhere. ($1.3 million) and is eligible to participate in the annual bonus plan with a target of 120% of salary, among other benefits. 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. We are now close to 90% regionally sourced. We further improved our service to consumers and customers, recognized in both the advantage survey scores by Kantar United States and through some specific customers' awards. Our GBU ambition is anchored in Reckitt's purpose to relentlessly pursue a cleaner and healthier world with purpose-led superior brands. And now I'm going to hand back to Nicandro. Salaries at Reckitt Benckiser, Inc. range from an average of 23,828 to 78,013 a year. We saw a circa 18% uplift due to the competitor supply issue. Salaries posted anonymously by Reckitt employees. Territroy Manager for pharmacy business manager Rekitt Benckiser (Former Employee) - London, Greater London - 31 October 2021. When I'm saying brand investments, we are going to invest more because of the innovations that we are deploying in the market. And then the second is on a comment you made, Jeff, around working capital. Overall, it's been a strong performance across the board in 2022, but I'm very pleased that our balance sheet also continues to strengthen with net debt moving from 8.4 billion to just under 8 billion, and that's despite a negative 500 million movement due to foreign exchange rate movements, specifically with the U.S. dollar. So that will be our second answer. I think it will be relatively sticky in the short term, as parents don't tend to switch brands when they're happy with their baby's formula. Aiutaci a proteggere Glassdoor dimostrando che sei una persona reale. 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. 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. You used to have industry-leading margins in Nutrition. The shock departure of Reckitt Benckiser's well-regarded chief executive after just three years in the job has hit shares in the maker of household-name products from Cillit Bang to Nurofen.. Laxman Narasimhan is stepping down from the FTSE 100 multinational citing family reasons and "an opportunity" to return to his native US, which City observers interpreted as a sign he could be . TO READ THE FULL STORY, SUBSCRIBE NOW NOW AT JUST RS 249 A MONTH. We remain fully focused on the delivery of our strategy to protect the human nurture in the relentless pursuit of a cleaner, healthier world. Moving on to our people. Reckitt Benckiser employees earn an average salary of $72,565 in 2023, with a range from $43,000 to $121,000. Celine Pannuti from JPMorgan. That's one point. First, we have world-class brands in each of the attractive categories we play in. The strong equity of our brands, our innovation pipeline and our strengthened go-to-market muscle position us very well to win here. It was in the Southern Hemisphere, and it now is in the Northern Hemisphere. Sure, I can take that. 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 . Yes. 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. So they don't suffer that much. In developing markets, we strengthened our reputation with health care professionals, or HCPs, during the year. In a carefully planned effort, we integrated our sales organizations across Health and Hygiene to create a more unified and larger field force. We basically are maintaining our position in terms of the priorities that we previously communicated, with the exception of dividends. Onze . Yes. - Extensive proactive talent mapping across functions and roles. 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. 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. It's Iain Simpson from Barclays. Dettol grew net revenues two out of the four quarters of the year, including in Q4. 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. We have strong, trusted, market-leading brands across the categories we compete in. Unilever. I'm delighted to be meeting with all of you today. And something that we have negotiated with customers, has been well received so far. Since then, we have introduced different tiers of premium-priced thermoformed tablets. 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. We had some three negotiations that we didn't have some of our products in the trade for some months. Harpic's largest market is India, where we have a 78% market share. High Pay Centre spokesman Stefan Stern singled out an 18m share-based long term incentive . 70% Approve of CEO. Nicandro is a highly experienced CEO who led the transformation of BAT over a nine-year period. Elsewhere, BEI was generally in line with 2021 as a percentage of net revenue. Quality of Products/Services. Reckitt Benckiser has 43,000 employees, of which 55 are in a leadership position. Supported by innovation, supported by distribution gains. I talked about our -- out of this category, we are holding share, but we're growing double digits. The first is on the brand investments. Are there other geographies where you could do that and we could expect revenue synergies from sort of unwinding some of that RB 2.0 separation? And I'm not really looking for consensus to change when it comes to margins. The transformation agenda Laxman and the Group Executive has led together is exciting and delivering results. Sign In. So all in all, that's something that really gives us more confidence in our future as we're accelerating our innovation pipeline. If you look at private label, I know that private label has gained some share during the year. It's very early in the year. 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. This improvement in our go-to-market capability is delivering results with market share gains in Mexico and Thailand and a significant turnaround in our Philippines business throughout the year. We have always operated in categories with a significant runway for long-term growth with trusted market-leading brands. verdade. 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. Latin America, for example, is almost identical. Yes, Hygiene. And how long this journey might take? I'm letting you know because this is already in the market, it's public knowledge. 1,593 salaries (for 648 job titles) Updated 3/1/2023. Now separately, let me just refer to the situation in the U.S. related to the infant formula market. Leverage has fallen to around 2x. And we continue to embed our sustainable ambitions with our business through our brands, in our supply chains, and in communities where we work. The team and I are very focused on continuing this in 2023 and beyond. Go ahead. So that's made a big difference. Nutrition impact during the year. We delivered broad-based revenue growth, strong earnings growth, and improved free cash flow, which has enabled us to further delever the balance sheet and increase our dividend. All those issues that I mentioned about trade negotiations is behind us. Firstly, I was really intrigued to hear the revenue uplift that you got from combining your Health and Hygiene sales forces in India. Like-for-like revenue growth in Q4 was 6.2%. If you have an ad-blocker enabled you may be blocked from proceeding. But we'll keep an element of that. We have a fantastic carryover going for the '23 because the majority of the price was taken at the beginning of the second half. CEO & Director: 198.99k: N/A: 1956: . We had single-digit inflation. Lamentamos Si continas viendo este mensaje, 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's like-for-like sales were 28% higher in 2022 compared to 2019, interim CEO Nicandro Durante said. Chief executive pay, said Lambert, had risen from 47 times average wages to 81 times in the last 10 years. 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. And then just a couple of follow-ups on what you've already said. "It was a surprise to find out Reckitt's CEO is stepping down, having only been in the role for three years and just starting to receive some credibility," said Tineke Frikee, fund manager at Reckitt shareholder Waverton Investment Management. See here for a complete list of exchanges and delays. Popular. '22 was a very strong quarter. For example, we have more than doubled the size of e-commerce platform over the last three years. So we will have work to do here, but continue to make progress. It's an unexpected move. 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. To summarize, we delivered a year of very strong growth in 2022 and remain well-positioned to grow by mid-single digits in 2023. We create simple, innovative products that make it easy for individuals, families and communities to live healthier and happier. With the symptoms of COVID becoming more flu-like over time, the lines are blurring between the two. So that was a high comparator, but we did ship more in Q4 of '22. Narasimhan decided to leave for personal reasons and to relocate to the United States, having been approached with a new opportunity there, Reckitt said without elaborating. And there are some elements that we have to take into account. All rights reserved, Reckitts response to the Infant formula shortage in the US, Sustainable livelihoods and working conditions. Let me go back to Item three in terms of reinvestments. This was the 2009 annual pay of the executive behind the Finish Powerball - a dishwasher tablet brand. So we saw an opportunity in India. I have long admired Reckitt's single-minded focus on categories with a strong runway for long-term growth. Wir entschuldigen uns fr die Umstnde. And also, we have a great pipeline of innovation, mainly Hygiene. Just how you're thinking about comping that in 2023 in terms of kind of the base there. And in 2023, we expect to deliver efficiencies of over 500 million. Reckitt Benckiser employees rate the overall salary and benefits package 3.9/5 . The impact of price and mix for the year was 9.8%, and volumes for the year were down 2.2%. pour nous faire part du problme. Over the last three years, we added 16 million new households to our franchise globally. 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. Right now, in markets like Brazil, China, India, the penetration is less than 2%. We have a strong global presence. Reckitt Benckiser's sales volumes slide as demand for disinfectant wanes Now let me sum up why we are excited about the future of our Hygiene business. 24. 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. Two questions from me. There is great momentum across the business and we are seeing the benefits come through in its performance. 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. Moving to our Dettol portfolio. Because, again, if you're keeping some of the top line, I'd expect you to keep some of the margin. We delivered a year of strong revenue growth and profit delivery and free cash flow. If there's any change, then we'll come back and we'll give you that update in those intervals.