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Former Reckitt Benckiser CEO to retire as director

British household products maker Reckitt Benckiser Group PLC said Sept. 2 that former CEO Rakesh Kapoor has retired from the company's board, effective immediately.

Kapoor's retirement from the board is in conjunction with his departure as CEO of the company. PepsiCo Inc.'s global chief commercial officer Laxman Narasimhan was named as Reckitt Benckiser's new CEO.

Kapoor will stay at Reckitt Benckiser until the end of 2019 to assist Narasimhan with the transition.