Let's start from there. 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. Half of our managers at Reckitt are women and a third of all senior leaders. So I just wanted to provide you with some high-level data points and our views on how we believe things may play out. Hygiene net revenue was 6.0 billion for the year, and like-for-like net revenue was down 3.1%. 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. With the product shortage now broadly resolved, as of the end of February, the WIC program has normalized. We have strong, trusted, market-leading brands across the categories we compete in. 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 . But I was pleased with our broad-based growth in 2022, with all our Health regions in growth for the year, including those without a large OTC business. What classifies as significant? All those issues that I mentioned about trade negotiations is behind us. London-based reporter covering retail and consumer goods, analysing trends including coverage of supply chains, advertising strategies, corporate governance, sustainability, politics and regulation. Last year alone, more than 20%, driven by increased go-to-market coverage, strengthened brand building, and our new premium 10x line. Our carbon reduction program continues to achieve our 2030 target, achieving a 66% reduction in carbon emissions since 2015. Going forward next year, you know that interest cost is going up a little bit, not for us, but for the whole world, unfortunately. 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. 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 . I don't expect significant destocking. Brand equity investments were up 5.7% at actual rates and essentially flat at constant currency. And I like competition on making that category grow. Reckitt Benckiser Chief Executive Laxman Narasimhan will step down at the end of September after three years in the role, the company said on Thursday, and will be replaced by insider and former BAT boss Nicandro Durante. 86% Approve of CEO. Now COVID has caused some volatility in our cash flows. The long-term share award vested at 52.6% of target on 25 March and the long-term cash award was paid at 110% of target in March 2021. If I think about the reinvestment that we have made for the past three years, we can clearly see you invested well in CapEx and the supply chain was strong. 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? Less clothes go into landfill and consumers can get results at much lower temperatures. Yes, Hygiene. 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. However, Lysol is much stronger now than pre-pandemic. And then the second is on a comment you made, Jeff, around working capital. So that was a high comparator, but we did ship more in Q4 of '22. His salary for 2015 was 23.2 million. If costs come in below where you expect at the moment, will you invest more into BI? 6. Let me start with the Health and Hygiene separation, they are 2.0. Could you just say when you expect Lysol to actually in volume flat rather than total growth flat, please, if possible? Point two, we have really fantastic innovation coming, and we can't talk about it yet, but I think that will further drive growth. I was till Sept 2019 Global CEO of RB (Reckitt Benckiser), a 13 billion global leader in consumer health and hygiene company, with Powerbrands such as Enfamil, Dettol, Lysol, Nurofen, Durex, Finish, Vanish and Strepsils. Right now, in markets like Brazil, China, India, the penetration is less than 2%. The final tranche of awards vested in March 2021 and were based on PepsiCos performance over the three-year period ending December 2020. 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. We have a leading position in each category with our well-trusted brands. Laxman has decided for personal and family reasons to relocate back to the United States and has been approached for an opportunity that enables him to live there. Reckitt Benckiser Group plc published this content on 08 April 2021 and is solely responsible for the information contained therein. Pinar Ergun, Morgan Stanley. So it was a 2.5% uplift. He is deeply familiar with the strategy and direction of Reckitt, having been on the board for a number of years, including several years as the Senior Independent Director. In the case of supply chain, I have to say that we have done that. . Growth was driven by a very strong progress in Auto Dish, Fabric Additives and Lavatory Care. However, there's no doubt the market will become more competitive in 2023. The British consumer goods . Distributed by Public, unedited and unaltered, on 08 April 2021 08:49:04 UTC. Of course, as we go forward, we're very clear, we're not going to manage a lazy balance sheet. Moving on to our people. So turning to our view on capital allocation. And we'd be more than happy to take your questions now. You used to have industry-leading margins in Nutrition. If you look at private label, I know that private label has gained some share during the year. Reckitt still walking the line as its sales have kept afloat partly thanks to high baby formula sales thanks to a competitor blender. And clearly, that's starting to enter into the territory that we talk about as looking to have surplus cash. The impact, as I mentioned, of which was 80 basis points on a group basis, the group adjusted operating margins. Reckitt has always been best-in-class in terms of working capital. So we would like you to start at the back. The first one, Kris, would you like to take it? So to your question about competition intensifying, I think the whole thing of our strategy is all about category growth, okay? With a growing middle class in developing markets, families are starting to switch from hand washing to using a dishwasher. It is pleasing to see our people leaving our cultural values and bringing their true service to work each day. naar We have a strong global presence. This was the 2009 annual pay of the executive behind the Finish Powerball - a dishwasher tablet brand. las molestias. On digital, whilst we still have more work to do, we have made some very good progress. Consumers are actively switching everywhere in the world from the low tier to the high tier. Can you talk about where they are across your business? 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; the pay ratio excluding the value of the buyout arrangements remains unchanged at 1:113. 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. The pay ratio excluding the value of the buyout arrangements remains unchanged at 1:113. I think that's unheard of in the last years. And whether you're going to actually end up having a bit of sort of supply chain filling in '23? Additional reporting by Johann M Cherian in Bengaluru And in 2023, we expect to deliver efficiencies of over 500 million. As we grow, especially in developing markets, we are spreading good sanitation practice with education and economic support. What are the group's prospects like for 2023 . This announcement is made by Catheryn ORourke, Company Secretary, for Reckitt Benckiser Group plc. And I think that if we hadn't done that, I think that during the last three years, it would have been impossible to manage the business, mainly in terms of supply chain capabilities that we created and things like that. REUTERS/Phil Noble/Photo Illustration. However, Career growth is rated the lowest at 3.5. The biggest extraordinary impact was the unprecedented cost inflation that hit us. So that's really what we do. Former Reckitt Benckiser CEO Laxman Narasimhan, who recently joined the world's biggest coffee chain Starbucks, will get an annual salary of approximately $17.5 million (Rs 140 crore) if he . We are also very fortunate to be able to appoint Nicandro Durante as our CEO. Brazilian-Italian Durante previously led tobacco giant British American Tobacco (BAT) for eight years until 2019. Average Reckitt salaries by department include: Design at $113,472, Finance at $106,404, Marketing at $109,041, and IT at $116,213. We have delivered a double-digit CAGR over the last three years and now have a business which is 40% larger than pre-pandemic. So all in all, that's something that really gives us more confidence in our future as we're accelerating our innovation pipeline. All in all, our teams have dealt with the challenges very well. Okay. He will receive benefits in line with Reckitts Remuneration Policy, however he will not receive a pension allowance. So I think those are the things that have really made a big difference for us. We delivered broad-based mid-single-digit growth across our portfolio, except for Lysol. In OTC, we know that overuse of antibiotics today is a leading concern. So we've given the guidance, the clear guidance of underlying margins, ex the 80, to be flat or slightly up. 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. Pros . This reduces the 2020 single total figure of remuneration (including buyout arrangements) to 8,434,334. We now feel we're stable. So was there any extra top-up that has occurred in Q1 that's going to help, please? But you look at Auto Dish, for example, we have 11% price increase during 2022, and the volume was 1% down. Thank you. The 66-year old will receive a salary of 1.1 million pounds ($1.3 million) as Reckitt CEO, the company said, adding that . CEO & Director: 198.99k: N/A: 1956: . 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 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. Now let me sum up why we are excited about the future of our Hygiene business. By Richa Naidu LONDON (Reuters) - Reckitt Benckiser, maker of Dettol and Lysol cleaning products, on Wednesday marginally beat full-year like-for-like net revenue expectations, helped by higher . Since then, we doubled it to 10%. We remain fully focused on the delivery of our strategy to protect the human nurture in the relentless pursuit of a cleaner, healthier world. Please. And a win for us for growing mid to high single digits. Since 2021, all core categories have delivered mid-single to double-digit revenue CAGRs. Since his appointment in September 2019, Laxman has led a successful rejuvenation of the companys strategy, execution and foundational capabilities. Just on the margin ex -- the underlying margin ex the Nutrition, you said that that's sort of flat to slightly up. 2020 Geographically, our Health business is well-balanced across developed and developing markets. The leverage impact from the stronger top line growth meant that as a percentage of net revenue, fixed costs were 80 basis points lower than last year at 22.2%, all of this flowing down to adjusted operating margins of 23.8%. 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. 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. Perhaps you can just expand on the point you made about -- obviously, you've had this impact of the cold and flu season. 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.

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