Medical technology business Smith & Nephew has lost its Chief Financial Officer to consumer goods multi-national Reckitt Benckiser.
Adrian Hennah will leave the company at the end of December, with the search for his successor already underway.
Chief Executive Olivier Bohuon thanked Hennab for his "outstanding commitment and dedication to Smith & Nephew over the last six years", saying he had made a significant contribution to the company's performance and strategy.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The split appeared rather more amicable than the departure of Reckitt's CFO, who is making way for Hennah.
Rakesh Kapoor, chief executive at the brand giant, which sells everything from kitchen cleaner to condoms, said he and incumbent Liz Doherty had "agreed that RB's and her way of working are not as well matched as either of us would like, and now is the right time for her to move to a new opportunity".
He said Doherty would stay with the business until March 2013, with Hennah joining as soon as he left Smith & Nephew.
"This overlap will help ensure a smooth transition," Kapoor said.
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
