Colgate Appoints Stanley J. Sutula as Chief Financial Officer
October 30 2020 - 8:05AM
Business Wire
Henning Jakobsen to Retire December 31,
2020
Colgate-Palmolive Company (NYSE:CL) announced today the
appointment of Stanley J. Sutula, currently Executive Vice
President and Chief Financial Officer of Pitney Bowes Inc., to
succeed Henning Jakobsen as Chief Financial Officer, effective
November 9, 2020. To ensure a smooth transition, Mr. Jakobsen will
assume the role of Senior Vice President until his retirement date,
December 31, 2020.
Mr. Sutula has served as Executive Vice President and Chief
Financial Officer at Pitney Bowes Inc. since February 2017 and
previously spent 28 years at IBM Corporation. He is a skilled and
experienced executive with an extensive background in corporate
finance, financial planning and operations, tax, strategic planning
and risk management. While at Pitney Bowes, Mr. Sutula championed
the use of technology and data analytics within the finance
organization, which in turn, helped deliver three consecutive years
of constant-currency revenue growth. His tenure at IBM included
financial management roles of increasing responsibility,
culminating in service as IBM’s Vice President and Controller. At
IBM, he led large, global, corporate and business unit teams and
honed his extensive background in finance, accounting, treasury,
financial planning and analysis, audit, risk and compliance. Mr.
Sutula graduated from Northeastern University in 1988 with a
Bachelor of Science degree in Finance and Management. He went on to
receive a Masters of Business Administration in Finance from the
Fordham Gabelli School of Business in 1995.
Mr. Jakobsen, who has served as Colgate’s Chief Financial
Officer since May 2018, was previously Vice President and Corporate
Controller from October 2017 to May 2018. He first joined Colgate
in 1989 and has held key financial positions for the Company's
European and North American business units, as well as General
Manager assignments in Africa and Europe. From 2006 to 2011 he left
Colgate to become Chief Financial Officer of Chr. Hansen, a
Denmark-based multinational bioscience organization, before
returning in 2011.
Noel Wallace, Colgate’s Chairman, President and Chief Executive
Officer, commented, "Colgate is deeply grateful for Henning’s
business and financial leadership as CFO and throughout his
leadership career at Colgate. We have benefited from his broad
international business knowledge and financial acumen. We look
forward to Stan’s leadership as CFO, as he brings deep technical
expertise from his proven track record leading finance and shaping
business strategy at Pitney Bowes, and his many years at IBM.”
***
About Colgate-Palmolive: Colgate-Palmolive Company is a caring,
innovative growth company reimagining a healthier future for all
people, their pets and our planet. Focused on Oral Care, Personal
Care, Home Care and Pet Nutrition and reaching more than 200
countries and territories, Colgate teams are developing and selling
health and hygiene products and pet nutrition offerings essential
to society through brands such as Colgate, Palmolive, elmex,
meridol, Tom’s of Maine, hello, Sorriso, Speed Stick, Softsoap,
Irish Spring, Protex, Sanex, Filorga, eltaMD, PCA Skin, Ajax,
Axion, Fabuloso, Soupline and Suavitel, as well as Hill’s Science
Diet and Hill’s Prescription Diet. Colgate seeks to deliver
sustainable profitable growth and superior shareholder returns and
to provide Colgate people with an innovative and inclusive work
environment. Colgate does this by developing and selling products
globally that make people’s lives healthier and more enjoyable and
by embracing its sustainability, diversity, equity and inclusion
and social responsibility strategies across the organization. For
more information about Colgate’s global business, its efforts to
improve the oral health of children through its Bright Smiles,
Bright Futures program and how the Company is building a future to
smile about, visit www.colgatepalmolive.com. CL-C
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