Sept 16 (Reuters) - Church & Dwight ( CHD ) said on

Monday that its CEO Matthew Farrell will step down, ending a

nearly two-decade stint at the condom maker, and finance chief

Rick Dierker will take over the top executive's

responsibilities.

The executive change comes as consumer goods companies such

as Church & Dwight ( CHD ) have been hiking their prices in a bid to

defend their profit margins against higher costs in recent

years.

Last month, the Trojan condom maker said it expects

full-year sales and profit at the lower end of its previous

forecast due to consumer hesitancy on spending for its

higher-priced household and personal care products.

Rick Dierker, who currently serves as CFO will be promoted

to the CEO position on March 31 next year. He has held various

positions in an over 15-year stint at the Therabreath mouthwash

maker, and took over the finance chief role in 2016.

Matt Farrell started out as the company's CFO in 2006, and

has held executive positions at AlliedSignal, which adopted the

Honeywell ( HON ) name after taking it over in 1999.

The company said Farrell will continue to serve as chairman

of the board for a transition period.