DOW JONES NEWSWIRES
Kimberly-Clark Corp. (KMB) named Chief Marketing Officer Tony Palmer as its new president of global brands and innovation.
In the expanded role, Palmer will be responsible for building the consumer-products giant's global brands and work with regional leaders of its K-C health and hygiene products business.
Palmer, 52 years old, joined the maker of brands such as Kleenex tissues and Huggies diapers in 2006. Prior experience includes cereal maker Kellogg Co. (K), where he served as managing director of U.K. operations and also served as president of its of natural, frozen and warehouse club businesses.
Kimberly-Clark in January reported a 19% drop in fourth-quarter earnings and said it expects challenging conditions to continue in the near term, especially in developed markets where the company is finding it hard for some price increases to stick.
Shares were down 52 cents at $71.34 in recent trading Wednesday morning. The stock is down 3% this year, trailing the broader market.
-By Tess Stynes, Dow Jones Newswires; 212-416-2481; Tess.Stynes@dowjones.com