Colgate Elects Brian Newman to Board of Directors

Rhea-AI Summary

Colgate-Palmolive Company (CL) appoints Brian Newman, CFO of UPS, to its Board of Directors, while Stephen I. Sadove retires. Newman brings extensive financial and global business expertise. Sadove to retire at the end of his term. Colgate focuses on Oral Care, Personal Care, Home Care, and Pet Nutrition, selling products globally under various brands.

NEW YORK--(BUSINESS WIRE)-- Colgate-Palmolive Company (NYSE:CL) today announced that Brian Newman, Executive Vice President and Chief Financial Officer of United Parcel Service, Inc. (“UPS”), has been elected to Colgate's Board of Directors effective March 15, 2024. The Company also announced that Mr. Stephen I. Sadove will retire from the Board effective May 10, 2024 at the end of his current term.

Brian Newman, 55, brings extensive financial and global business leadership experience and expertise in the consumer products industry to Colgate’s board. Mr. Newman joined UPS, a global package delivery company and provider of supply chain management solutions, in 2019. Prior to joining UPS, Mr. Newman spent 26 years at PepsiCo, where he served in a variety of finance leadership roles spanning Europe, Asia and North and South America. He also served as Executive Vice President for PepsiCo’s Global Operations, responsible for global operations including supply chain, global procurement, global security, enterprise risk management and transformation, and as PepsiCo’s Chief Strategy Officer.

In accordance with Colgate’s mandatory director retirement policy, Stephen I. Sadove, 72, will retire as a director at the end of his current term and will not stand for reelection to the Board at the Annual Meeting of Stockholders to be held on May 10, 2024. Mr. Sadove has contributed greatly to the Company’s success for over a decade, especially through his strong leadership in his role as Independent Lead Director, a position he held from March 2015 to March 2023.

Commenting on the new director election, Noel Wallace, Colgate’s Chairman, President and CEO, said, “We are delighted to welcome Brian to the Board and are pleased that he will contribute his outstanding capabilities to Colgate. Steve has our profound thanks for his immeasurable contributions to Colgate’s business success and we extend our best wishes to him for the future.”

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Colgate-Palmolive Company is a caring, innovative growth company that is reimagining a healthier future for all people, their pets and our planet. Focused on Oral Care, Personal Care, Home Care and Pet Nutrition, we sell our products in more than 200 countries and territories under brands such as Colgate, Palmolive, elmex, hello, meridol, Sorriso, Tom’s of Maine, EltaMD, Filorga, Irish Spring, PCA SKIN, Protex, Sanex, Softsoap, Speed Stick, Ajax, Axion, Fabuloso, Soupline and Suavitel, as well as Hill’s Science Diet and Hill’s Prescription Diet. We are recognized for our leadership and innovation in promoting sustainability and community wellbeing, including our achievements in decreasing plastic waste and promoting recyclability, saving water, conserving natural resources and improving children’s oral health through the Colgate Bright Smiles, Bright Futures program, which has reached approximately 1.7 billion children and their families since 1991. For more information about Colgate’s global business and how we are building a future to smile about, visit www.colgatepalmolive.com. CL-C

View source version on businesswire.com: https://www.businesswire.com/news/home/20240215068367/en/

Investor Relations: investor_relations@colpal.com

Communications: colgate_palmolive_media_inquiry@colpal.com

Source: Colgate-Palmolive Company

FAQ

Who has been elected to Colgate's Board of Directors?

Brian Newman, the CFO of UPS.

When will Stephen I. Sadove retire from Colgate's Board?

Stephen I. Sadove will retire at the end of his current term on May 10, 2024.

What industries does Colgate focus on?

Colgate focuses on Oral Care, Personal Care, Home Care, and Pet Nutrition.

In how many countries and territories does Colgate sell its products?

Colgate sells its products in more than 200 countries and territories.

What is the significance of the Colgate Bright Smiles, Bright Futures program?

The program aims to improve children's oral health and has reached approximately 1.7 billion children and their families since 1991.