Dive Brief:

• Reckitt Benckiser Group, maker of popular consumer products ranging from Lysol to Mucinex, said Wednesday that its finance chief, Jeff Carr, is retiring after three years in the role.

• Carr has notified Reckitt of his intention to retire at the end of March, the Slough, England-based company said in a press release.

• He will be replaced by Nike executive Shannon Eisenhardt, who will join Reckitt in October as “CFO designate,” the release said. Upon joining, Shannon will also be appointed to the company’s board as an executive director, it said.

Dive Insight:

The CFO change comes as the company is also transitioning to a new CEO. Kris Licht, who is currently serving as CEO designate of Reckitt, is expected to take over as chief executive by the end of 2023. He is replacing Nicandro Durante, who is stepping down.

Carr, 61, was instrumental in leading the company’s “productivity program” — an initiative launched in 2020 to drive growth — while ensuring results “despite the challenges of [the COVID-19 pandemic] and geo-political crises,” according to Reckitt’s release.

Carr’s “strong contributions will stand us in good stead during the next chapter for Reckitt,” the release said.

As part of productivity program, Reckitt committed to an investment of 2 billion British pounds in “growth-led initiatives” over three years. The program was launched as the company struggled with lagging sales growth compared with peers such as Procter & Gamble, Reuters reported at the time.

Prior to joining Reckitt, Carr was the CFO for Dutch retailer Ahold Delhaize.

Eisenhardt has served in multiple financial leadership roles at Nike over the last eight years, according to her LinkedIn profile. She currently serves as CFO of Nike’s Consumer, Brand and Marketplace business, a role she assumed in April 2020. Prior to joining Nike, she served in various finance positions at Procter & Gamble over a period of nearly two decades.

“Shannon brings extensive experience across consumer and retail, having worked with some of the most globally recognized brands, and an impressive and highly relevant international background,” Chris Sinclair, Reckitt’s board chairman, said in the company’s release.