Reckitt Benckiser to set up China foundation

Reckitt Benckiser Group, a British multinational consumer goods company, will establish a foundation in China in partnership with China Children & Teenager Fund, according to the company's newly assigned CEO.

Laxman Narasimhan, who took over as CEO of RB on Sept 1, said the foundation was designed to reduce malnutrition and stunting in rural communities of western China.

"With the symbolic announcement, the foundation will double our investment to $10 million by 2025 and seek partnerships linked to our business," he said.

The foundation will build on the existing $5 million partnership with the China Children & Teenager Fund, called the Better Start in Life program (2019-2022), according to the CEO.

Narasimhan chose to start his tenure as CEO by paying a visit to Guangzhou, capital of Guangdong province, on Tuesday.

"China is RB's second-largest market, and one we are committed to enhancing as the company continues to lead the way in our ever-growing e-commerce activities," the CEO said.