Colgate Elects John T. Cahill to Board of Directors, Declares Regular Quarterly Dividend and Strengthens Governance Guidelines o
October 06 2005 - 1:23PM
PR Newswire (US)
NEW YORK, Oct. 6, 2005 /PRNewswire-FirstCall/ -- The
Colgate-Palmolive Company (NYSE:CL) announced today that John T.
Cahill, Chairman and Chief Executive Officer of The Pepsi Bottling
Group, Inc. (PBG), has been elected to the Company's Board of
Directors. Mr. Cahill brings extensive business leadership
experience from his 16 years at PepsiCo and The Pepsi Bottling
Group, where he has held multiple senior financial and operating
leadership positions. He began his PepsiCo career in 1989. He
served as Chief Financial Officer for both Kentucky Fried Chicken
and Pepsi-Cola North America before becoming SVP & Treasurer of
PepsiCo. With the formation of The Pepsi Bottling Group, Inc. in
1998, Mr. Cahill became PBG's Chief Financial Officer and later its
President and Chief Operating Officer. In 2001, he was named Chief
Executive Officer and, in 2003, Chairman and CEO. Mr. Cahill
formerly served as Chief Financial Officer for RKO Pictures. Mr.
Cahill has been a director of The Pepsi Bottling Group since 1998.
He also serves on the Boards of the U.S.-Russia Business Council,
the Woodward/White Publishing Company, and the Industry Affairs
Council of the Grocery Manufacturers of America. Mr. Cahill is the
former Chairman of the National Soft Drink Association, which today
is known as the American Beverage Association, and is a member of
G100. Mr. Cahill received his MBA from Harvard Graduate School of
Business Administration and an AB in economics from Harvard
College. Separately, the Board of Directors of Colgate-Palmolive
Company today declared quarterly cash dividends of $.29 per common
share, payable on November 15, 2005, to shareholders of record on
October 26, 2005. The Company has paid uninterrupted dividends on
its common stock since 1895. Colgate also announced that it has
amended its Corporate Governance Guidelines regarding the election
of directors. Under the amendment, in an uncontested election any
director who receives a majority of withhold votes will be required
to tender his or her resignation to the Nominating and Corporate
Governance Committee, which will then consider the resignation and
make a recommendation to the full Board of Directors. "This action
continues and strengthens our long-standing commitment to good
governance practices," said Mr. Mark, Chairman and Chief Executive
Officer. *** Colgate-Palmolive is a leading global products
company, tightly focused on Oral Care, Pet Nutrition, Personal
Care, Household Surface Care and Fabric Care. Colgate sells its
products in over 200 countries and territories around the world
under such internationally recognized brand names as Colgate,
Palmolive, Mennen Speed Stick, Irish Spring, Kolynos, Ajax,
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: The Colgate-Palmolive Company
CONTACT: Bina Thompson, +1-212-310-3072, or Hope Spiller,
+1-212-310-2291, both for Colgate-Palmolive Web site:
http://www.colgate.com/
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