Outcome of Audit Tender

RNS Number : 3489E

Reckitt Benckiser Group PLC

05 May 2017

 

5 May 2017

Reckitt Benckiser Group plc ("RB")

RB to propose the appointment of KPMG LLP ("KPMG") as auditor

RB announces its intention to appoint KPMG as its auditor for the financial year ending 31 December 2018. This follows a competitive tender process for its statutory audit contract, overseen by RB's Audit Committee, resulting in a recommendation which was approved by the RB Board.

PricewaterhouseCoopers LLP ("PwC"), RB's current external auditor, will continue in its role and, further to reappointment by RB's shareholders at the 2017 Annual General Meeting held on 4 May 2017, will undertake the audit of RB for the financial year ending 31 December 2017. The appointment of KPMG will be recommended to RB's shareholders for approval at the 2018 Annual General Meeting.

Ken Hydon, Chairman of RB's Audit Committee during the tender process, said: "We would like to extend our appreciation to PwC for its significant contribution to RB and the work it has carried out to provide assurance to the RB Board and shareholders during its time as RB's auditor. We have conducted detailed investigations as part of a thorough audit tender process to ensure that our principal criteria of geographical reach, experience, expertise in the consumer products industry, and cultural fit were met. Subject to shareholder approval, KPMG will be appointed at the 2018 AGM."

Notes to editors:

·      In RB's Annual Report and Accounts for the year ended 31 December 2015, RB's Audit Committee disclosed that it had commenced a pre-selection process with a number of audit firms in preparation for an audit tender in 2017, with the intention to recommend and have ready for appointment a new auditor at the 2018 AGM.

·      Annual appointment of external auditors by AGM is required under UK law. UK and EU law now requires an auditor's maximum period as auditor to a listed company to be 20 years, with a competitive tender process required at least once every 10 years.

For further information, please contact:

RB

Richard Joyce

SVP, Investor Relations

[phone]

Patty O'Hayer

Director, External Relations and Government Affairs 

[phone]

Brunswick

David Litterick

[phone]

Reckitt Benckiser Group plc's LEI code is 5493003JFSMOJG48V108

About RB:

RB* is the world's leading consumer health and hygiene company. The company has operations in over 60 countries, with headquarters in London, Dubai and Amsterdam, and sales in most countries across the globe. The company employs approximately c. 37,000 people worldwide.

Inspired by a purpose to deliver innovative solutions for healthier lives and happier homes, RB is in the top 20 companies listed on the London Stock Exchange. We are the global No 1 or No 2 in the majority of our fast-growing categories, driven by an exceptional focus on innovation. Our health, hygiene and home portfolio is led by our global Powerbrands including Nurofen, Strepsils, Gaviscon, Mucinex, Durex, Scholl, Clearasil, Lysol, Dettol, Veet, Harpic, Cillit Bang, Mortein, Finish, Vanish, Calgon, Air Wick, Woolite and French's. Our Powerbrands represent 80% of net revenue.

RB is redefining the world of consumer health and hygiene. Our people and unique culture are at the heart of our success. We have a drive for achievement and a passion to outperform wherever we focus, including sustainability where we are targeting a 1/3 reduction in water impact, 1/3 reduction in carbon and 1/3 of net revenue from more sustainable products. We are proud to be Save the Children's largest global partner, with a new vision to radically reduce one of the world's largest killers of under 5s, diarrhoea. 

For more information visit www.rb.com 

*RB is the trading name of the Reckitt Benckiser group of companies

 

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