Colgate President William S. Shanahan Announces Retirement Date; Ian M. Cook Elected President and Chief Operating Officer
July 29 2005 - 9:00AM
PR Newswire (US)
Colgate President William S. Shanahan Announces Retirement Date;
Ian M. Cook Elected President and Chief Operating Officer NEW YORK,
July 29, 2005 /PRNewswire-FirstCall/ -- Colgate-Palmolive Company
(NYSE:CL) today announced that its long-serving President, William
S. Shanahan, will retire on September 30th of this year.
Simultaneously, the Company's Board of Directors has elected Ian M.
Cook, 53, currently Chief Operating Officer, to become President
and Chief Operating Officer upon Mr. Shanahan's retirement. Mr.
Shanahan joined Colgate in 1965 and served in every Division around
the world and as CEO of former subsidiary Helena Rubinstein. His
many senior management roles gave him a unique, in-depth
perspective on the Company's on- the-ground operations, which he
used in subsequent corporate leadership roles to establish
consistent global processes and strategies focused on key
performance measures, including market share leadership and
worldwide volume and profit growth. In 1989, he became Chief
Operating Officer and was named President in 1992. Since that time,
he has been a prime architect of the Company's global success,
leading Colgate's highly focused business strategy in over 200
countries. His innovations led to many years of market share growth
and business discipline around the world. Since he assumed
responsibility for Company operations in 1989, the Company's sales
have more than doubled from $4.9 billion to $10.6 billion in 2004
and profits more than quintupled during the same period. "Bill is a
gifted marketer with an encyclopedic knowledge of Colgate's people,
products, and markets, and he has earned enormous respect inside
and outside the Company for his results-oriented leadership," said
Reuben Mark, Chairman and CEO. Mr. Mark commented further, "Our
Board of Directors and Colgate people everywhere join me in
expressing heartfelt thanks to Bill for his outstanding leadership.
Our global success is a testament to his extraordinary vision,
knowledge and skill. By generously sharing his experience and
insights with our next leadership generation, Bill is making an
invaluable contribution to our future success as well." Ian Cook
has been Colgate's Chief Operating Officer since 2004. His 29- year
career with the Company includes success in a wide variety of
operating and corporate roles, including President of Colgate North
America which he led to record sales, market leadership and
profitability. Reuben Mark said, "Ian's truly global experience and
record of success make him especially qualified for his new role,
driving our strategies and results throughout the Colgate world." *
* * About Colgate-Palmolive: Colgate-Palmolive is a leading global
consumer products company, tightly focused on Oral Care, Personal
Care, Home Care and Pet Nutrition. Colgate sells its products in
over 200 countries and territories around the world under such
internationally recognized brand names as Colgate, Palmolive,
Mennen, Softsoap, Irish Spring, Protex, Sorriso, Kolynos, Elmex,
Ajax, Axion, Soupline, Suavitel and Fab, as well as Hill's Science
Diet and Hill's Prescription Diet pet foods. For more information
about Colgate's global business, visit the Company's web site at
http://www.colgate.com/. DATASOURCE: Colgate-Palmolive Company
CONTACT: Hope Spiller, +1-212-310-2291, or Bina Thompson,
+1-212-310-3072, both for Colgate-Palmolive Company Web site:
http://www.colgate.com/
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