Colgate Elects Noel Wallace President and Chief Executive Officer and a Member of Its Board of Directors Effective April 2, 2...
February 11 2019 - 4:30PM
Business Wire
In line with the Company’s well-established long-term succession
planning process, Colgate-Palmolive Company (NYSE:CL) announced
today that, effective April 2, 2019, Noel Wallace has been elected
President and Chief Executive Officer and a member of the Company’s
Board of Directors. Ian Cook will serve as Executive Chairman, also
effective on April 2, 2019, for a period of up to twelve months in
connection with the leadership transition.
Mr. Wallace, 54, Colgate’s President and Chief Operating Officer
since July 2018, joined Colgate in 1987 and progressed through a
series of senior management roles around the world. In 2002, he
became President and General Manager of the Global Toothbrush
Division. He then led Colgate Mexico and Colgate U.S. and, in 2010,
became President Colgate North America, also leading Colgate’s
Global Sustainability strategy. In 2013, he became President,
Colgate Latin America and, in 2016, was named Chief Operating
Officer, Global Innovation & Growth and Hill’s Pet
Nutrition.
Mr. Cook, 66, has served as Colgate’s Chairman and Chief
Executive Officer since July 2018 after serving as Chairman,
President and Chief Executive Officer from January 2009 to July
2018. He was first appointed Chief Executive Officer and a member
of the Board of Directors in July 2007.
Ian Cook, Colgate’s current Chairman and Chief Executive Officer
said, “Noel is a truly outstanding leader who is extremely
well-prepared to lead Colgate after a highly successful 32-year
career guiding Colgate businesses all around the world. Over the
last decade, his senior leadership roles have demonstrated his
expertise in formulating and executing global strategy and in
guiding operational performance. He is exactly the right leader to
take the reins as Colgate’s CEO now. He and the Company’s next
generation of leaders have my complete confidence.”
Stephen Sadove, the Lead Director of Colgate’s Board of
Directors said, “It’s very gratifying to see the Board’s succession
planning process, which began more than two years ago, come to
fruition with the happy result of Noel’s election as President and
CEO, and as a member of the Board. Noel brings exceptional
experience and integrity to the job of leading Colgate, together
with a sharp focus on accelerating growth. We’re extremely grateful
for Ian’s strong leadership as CEO and we are pleased that he has
agreed, at the Board’s request, to provide transition guidance to
Noel as Executive Chairman.”
Noel Wallace, President and CEO-elect said, “With our innovation
and growth strategy generating renewed momentum and a highly
energized team of Colgate leaders around the world, I am extremely
excited about our future. I look forward to working with all
Colgate people as we enter a new phase of growth, taking full
advantage of our longstanding strengths and developing new ones to
seize emerging opportunities."
* * *
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,
elmex, Tom’s of Maine, Sorriso, Speed Stick, Lady Speed Stick,
Softsoap, Irish Spring, Protex, Sanex, Elta MD, PCA Skin, Ajax,
Axion, Fabuloso, 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 website at
http://www.colgatepalmolive.com. To learn more about Colgate Bright
Smiles, Bright Futures® oral health education program, please visit
http://www.colgatebsbf.com. CL-E
Cautionary Statement on Forward-Looking
Statements
This press release and the related webcast may contain
forward-looking statements (as that term is defined in the U.S.
Private Securities Litigation Reform Act of 1995 or by the
Securities and Exchange Commission (SEC) in its rules, regulations
and releases) that set forth anticipated results based on
management’s current plans and assumptions. These statements are
made on the basis of the Company’s views and assumptions as of this
time and the Company undertakes no obligation to update these
statements whether as a result of new information, future events or
otherwise, except as required by law or by the rules and
regulations of the SEC. Moreover, the Company does not, nor does
any other person, assume responsibility for the accuracy and
completeness of these statements. The Company cautions 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. For more information about
factors that could impact the Company’s business and cause actual
results to differ materially from forward-looking statements,
investors should refer to the Company’s filings with the SEC
(including, but not limited to, the information set forth under the
captions “Risk Factors” and “Cautionary Statement on
Forward-Looking Statements” in the Company’s Annual Report on Form
10-K for the year ended December 31, 2017 and subsequent Quarterly
Reports on Form 10-Q). Copies of these filings may be obtained upon
request from the Company’s Investor Relations Department or on the
Company’s website at http://www.colgatepalmolive.com.
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