OAKLAND, Calif., Jan. 22, 2018 /PRNewswire/ -- The Clorox Company
(NYSE:CLX) today announced the following changes:
Executive Vice President – Chief Financial
Officer Stephen M. "Steve" Robb has announced his
decision to retire from the company. Robb, who joined Clorox in
1989, has been the company's chief financial officer since 2011 and
a member of the company's executive management committee, with
responsibility for leading all aspects of Clorox's financial
activities, including accounting, reporting, internal controls,
treasury, tax and investor relations. During his career with
Clorox, Robb has overseen the company's cost savings efforts, which
have produced an average of $100
million in savings annually. During his tenure as CFO, Robb
has helped the company deliver a strong track record of financial
results and total shareholder returns, in part enabled by these
cost savings. In 2017, he was selected by the San Francisco
Business Times as the Bay Area CFO of the Year for a large public
company.
"After 29 years with the company, Steve leaves a tremendous
legacy of financial stewardship and discipline that has served the
company and investors well and will contribute to the company for
years to come," said Chairman and CEO Benno
Dorer. "We are grateful for his many years of service to the
company and contributing greatly in his years as CFO. We thank him
for his integrity, leadership and distinguished service.
"Steve will actively serve in his CFO role through March 31, and then continue in an advisory
capacity through the end of the fiscal year," Dorer continued.
"Steve's leadership, focus on total shareholder return and the
timing of this announcement will ensure a smooth and orderly
transition that will help us continue our focus on driving growth
that is profitable, sustainable and responsible."
Effective April 1, Kevin Jacobsen will succeed Robb and has
been appointed senior vice president – chief financial officer and
a member of the company's executive management committee, reporting
to CEO Dorer. Jacobsen, who joined Clorox in 1995, has served as
Clorox's vice president – Financial Planning & Analysis since
November 2011. During his tenure at
Clorox, he has held senior leadership roles in Finance across the
company. In all of these assignments, Jacobsen has focused on
developing and implementing business strategies that drive
increased shareholder value. As CFO, Jacobsen will oversee all
aspects of Clorox's financial activities.
"Kevin brings strong leadership, insight and a deep
understanding of Clorox's financial model," Robb said. "He is the
company's finance lead on our Business Operations Leadership Team
and has helped to drive the financial success we've achieved. I
couldn't be more pleased to be passing the baton to Kevin."
"Kevin's appointment as CFO is a great example of our robust
succession-planning process," said Dorer. "He is a seasoned and
thoughtful executive with more than 20 years of experience across
the Clorox finance organization and brings deep experience and
strategic continuity to the CFO role."
Photos of and additional biographical information on Robb and
Jacobsen are available at
https://www.thecloroxcompany.com/who-we-are/corporate-governance/executive-team/
The Clorox Company
The Clorox Company (NYSE: CLX) is a leading
multinational manufacturer and marketer of consumer and
professional products with approximately 8,100 employees worldwide
and fiscal year 2017 sales of $6 billion. Clorox markets some
of the most trusted and recognized consumer brand names, including
its namesake bleach and cleaning products;
Pine-Sol® cleaners; Liquid
Plumr® clog removers; Poett® home
care products; Fresh Step® cat litter;
Glad® bags, wraps and containers;
Kingsford® charcoal; Hidden
Valley® dressings and sauces;
Brita® water-filtration products; Burt's
Bees® natural personal care products; and
RenewLife® digestive health products. The company
also markets brands for professional services, including Clorox
Healthcare® and Clorox Commercial Solutions®. More than
80 percent of the company's sales are generated from brands that
hold the No. 1 or No. 2 market share positions in their
categories. For more information, visit TheCloroxCompany.com,
including the Good Growth blog, and follow the company on
Twitter at @CloroxCo.
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SOURCE The Clorox Company