Reckitt Benckiser – GC Powerlist
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United Kingdom 2018: The Team Elite

Reckitt Benckiser

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United Kingdom 2018: The Team Elite

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About

Rupert Bondy surprised many when he left BP for Reckitt Benckiser (RB) at the end of 2016. A veteran of 26 years at the oil major, and one of the most high-profile GCs in Europe, he had guided it through some particularly challenging times, including settling the Deepwater Horizon government claim following the catastrophic 2010 oil spill in the Gulf of Mexico. As GC of consumer goods multinational RB, Bondy is overseeing some major mandates that reinforce the company’s position in the FTSE 100. Bondy contends that the inhouse team at RB is passionate about the diverse range of brands that comprise the company, from Finish detergent to Durex. He says: ‘One of the distinctive things about RB is that it prides itself on being extremely lean and the legal team punches above its weight in terms of its size. There’s tremendous energy, commitment and passion about the company and its brands.’ Considering the $17.9bn transaction RB undertook in February 2017, it is clear the team is capable of handling marquee transactions. The deal, which was the company’s biggest-ever acquisition, saw RB purchase baby formula manufacturer Mead Johnson to secure its position in the consumer health bracket. According to Bondy, the deal represented a ‘very significant effort’ by the legal team, as it resulted in RB reorganising its whole business into two new divisions: health and hygiene, and home. He says: ‘Infant formula is a particularly sensitive category. We are dealing with very young babies who are completely dependent in some cases on us for 100% of their nutrition.’ North American GC for health, Geoffroy Ribadeau Dumas, had a strong involvement in both the Mead Johnson acquisition and the subsequent integration. Richard Walker, now RB’s head of legal for hygiene and home, oversaw a substantial disposal of the company’s food business in July 2017. To raise funds for the Mead Johnson buyout, RB sold off its food division to Baltimorebased spice company McCormick for $4.2bn. Unlike some of the other teams highlighted in this year’s GC Powerlist, RB chooses not to operate with a director of legal operations. Bondy states: ‘We don’t have the capacity to justify having one, despite people arguing that it justifies itself with the benefits it brings. We are very lean and mean.

 

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