Lysol Maker Reckitt Jolted by CEO’s Surprise US Departure (1)

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.

The shares’ 5.7% decline in London early Thursday reflects investor disappointment at the departure of a CEO who steadied the UK consumer goods company after a turbulent period under his predecessor.

Reckitt said Nicandro Durante, currently senior independent director, will step into the role of CEO while the board considers a longer-term replacement for Narasimhan, who’s leaving to pursue a new opportunity in the US ...