THE WHAT? Colgate-Palmolive has announced the retirement of Ian Cook as Chairman of the Board and a director and the election of Noel Wallace, President and CEO as his successor, effective April 1, 2020.
THE DETAILS “We are extremely grateful for Ian’s outstanding leadership of Colgate’s Board as its Chairman and of the Company as its CEO. He has the deep gratitude of all Colgate people for his highly effective, principled leadership and my warm thanks for his guidance and support over our leadership transition.”
Colgate has also elected Martina Hund-Mejean, former CFO at Mastercard to its Board of Directors, effective immediately. Separately, the company announced the resignation of Charles A Bancroft, EVP, Head of Integration and Strategy & Business Development at Bristol-Myers Squibb, from its Board of Directors.
THE WHY? Wallace’s appointment is consistent with previously announced succession plans, while Hund-Mejean brings extensive financial and business leadership experience from her 11 years as CFO at Mastercard.