PZ Cussons – executive interview

In this interview, PZ Cussons CEO Jonathan Myers reflects on how the business has evolved since he joined six years ago, highlighting the shift towards a clearer strategic focus on locally loved brands across personal care, home care and baby care in the group’s four lead markets, which account for 85% of sales. Jonathan discusses progress in strengthening the balance sheet, with net debt in Nigeria reduced from more than £110m to around £30m and Nigerian cash holdings capped to manage devaluation risk, while reiterating the group’s target leverage range of 1.0–1.5x. He also addresses the outcome of last year’s strategic review of the Africa and St Tropez businesses, explaining the rationale for retaining both and outlining the operational changes, including a new North America distribution partner, which have already returned St Tropez to double-digit growth in that region. Finally, he sets out what he believes underpins a successful FMCG brand and discusses the scope to replicate high market share positions, such as Morning Fresh in Australia, through expansion into adjacent categories, including dishwasher capsules.