Colgate Elects Ian Cook President and Chief Executive Officer and a Member of Its Board of Directors
July 02 2007 - 9:00AM
PR Newswire (US)
NEW YORK, July 2, 2007 /PRNewswire-FirstCall/ -- In line with the
Company's previously announced succession plan, Colgate-Palmolive
Company (NYSE:CL) announced today that effective July 1, 2007, Ian
Cook has been elected President and Chief Executive Officer and a
member of the Company's Board of Directors. Mr. Cook, 55, joined
Colgate in the United Kingdom in 1976 and progressed through a
series of senior management roles around the world. He became Chief
Operating Officer in 2004, with responsibility for operations in
North America, Europe, Central Europe, Asia and Africa. In 2005,
Mr. Cook was promoted to President and Chief Operating Officer,
responsible for all Colgate operations worldwide. Mr. Cook's
appointment coincides with Reuben Mark's retirement as Chief
Executive Officer, a position he held since 1984. At the Board's
request, Mr. Mark will remain as Chairman of the Company's Board of
Directors for a period of up to 18 months after July 1, 2007.
Reuben Mark, Chairman said, "This action reflects the happy result
of a long-term succession plan and a detailed timetable developed
and long agreed to by Colgate's Board of Directors. Ian Cook is a
truly outstanding Colgate leader with three decades of experience
with the Company. He has lived and worked all around the world
building Colgate's businesses. For the past three years, he has
worked closely with other Colgate leaders to develop and implement
the business strategy that is now so successful. We all have
complete confidence in him and the Company's next generation of
leaders." Ian Cook, President and CEO said, "I look forward to
working with all Colgate people to continue Colgate's long history
of profitable growth achieved under Reuben's leadership. The
combination of our successful business strategy and an
extraordinarily talented and dedicated team around the world makes
me very excited about our future." 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, Tom's of Maine, Ajax, Axion,
Soupline, and Suavitel, as well as Hill's Science Diet and Hill's
Prescription Diet. For more information about Colgate's global
business, visit the Company's web site at http://www.colgate.com/.
This press release may contain forward-looking statements. Such
statements may relate, for example, to sales or volume growth,
profit growth, earnings growth, financial goals, cost-reduction
plans, estimated charges and savings associated with the 2004
Restructuring Program and new product introductions. These
statements are made on the basis of our views and assumptions as of
this time and we undertake no obligation to update these
statements. We caution investors that any such forward-looking
statements are not guarantees of future performance and that actual
events or results may differ materially from those statements.
Investors should consult the Company's filings with the Securities
and Exchange Commission (including the information set forth under
the caption "Risk Factors" in the Company's Form 10-K for the year
ended December 31, 2006) for information about factors that could
cause such differences. Copies of these filings may be obtained
upon request from the Company's Investor Relations Department or
the Company's web site at http://www.colgate.com/. DATASOURCE:
Colgate-Palmolive CONTACT: Bina Thompson, +1-212-310-3072, Hope
Spiller, +1-212-310-2291, both of Colgate-Palmolive Web site:
http://www.colgate.com/
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