Colgate-Palmolive Company Appoints Lorrie Norrington  as Lead Independent Director of the Board

Rhea-AI Summary

Colgate-Palmolive Company (NYSE: CL) has appointed Lorrie Norrington as Lead Independent Director effective March 1, 2023, succeeding Stephen I. Sadove. Norrington, who joined the Board in September 2015, has significant experience in global corporate leadership, digital, e-commerce, and ESG, having held senior roles at eBay and other companies. CEO Noel Wallace expressed confidence in Norrington's capabilities to drive the company’s growth strategy and digital transformation. Sadove will continue to serve on the Audit and Personnel and Organization Committees.

Positive

• Norrington's extensive experience in digital transformation and ESG can enhance Colgate's strategic direction.
• Leadership continuity with Sadove remaining on the Board to support the transition.

Negative

• Concerns about continuity in leadership experience with the transition.

NEW YORK--(BUSINESS WIRE)-- Colgate-Palmolive Company (NYSE: CL) today announced that its Board of Directors has appointed Lorrie Norrington as Lead Independent Director, effective March 1, 2023. Ms. Norrington will succeed Stephen I. Sadove, the Company’s current Lead Independent Director. Mr. Sadove will remain on the Audit and Personnel and Organization Committees of the Colgate Board of Directors.

Ms. Norrington joined the Company’s Board in September 2015 and currently serves as Chair of the Nominating, Governance and Corporate Responsibility Committee. She brings extensive global corporate leadership, digital, e-commerce and ESG experience to this role, including her experience in several senior management roles at eBay, including President of Global eBay Marketplaces, Chief Operating Officer of eBay Marketplaces, President of eBay International and CEO of Shopping.com. Lorrie is currently an Operating Partner of Lead Edge Capital LLC and previously held senior roles at Intuit, Inc. and General Electric Company.

“We are incredibly grateful for Steve’s leadership of our Board as Lead Independent Director, an important role that ensures robust independent leadership on the Board. Steve has made immeasurable contributions to our strategy, business success and governance excellence, and I look forward to continuing to work alongside him during this transition,” said Noel Wallace, Chairman, President and Chief Executive Officer. “As we look ahead, Lorrie will be an outstanding Lead Independent Director, and I am excited to partner with her as we continue to advance our growth strategy and drive our digital transformation. With her significant ESG expertise, Lorrie is an excellent Chair of our Nominating, Governance and Corporate Responsibility Committee and we look forward to continuing to benefit from her experience and expertise in this role as well.”

Mr. Sadove said, “It has been an honor to serve as the Lead Independent Director of Colgate’s Board. I, alongside the remainder of the Board, am confident Lorrie is the right choice for the Company’s next Lead Independent Director, and I look forward to working with her, Noel and the rest of the Board and the management team in the Company’s next phase of growth.”

“I am honored to serve as Lead Independent Director of Colgate’s Board of Directors and thank Steve for his leadership,” said Ms. Norrington. “I am excited to partner with Noel, Steve and the rest of the Board and the management team as we embark on this important next chapter in the Colgate-Palmolive journey, focused on continuing to capture growth opportunities across all of our divisions and categories.”

About Colgate-Palmolive Company

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, 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 more than 1.4 billion children 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

Cautionary Statement on Forward-Looking Statements

This press release 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). 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, 2021 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 www.colgatepalmolive.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230103005550/en/

John Faucher 212-310-3653

Hope Spiller 212-310-2291

Source: Colgate-Palmolive Company

FAQ

Who is the new Lead Independent Director of Colgate-Palmolive (CL)?

Lorrie Norrington has been appointed as the new Lead Independent Director, effective March 1, 2023.

What are Lorrie Norrington's qualifications for her role at Colgate-Palmolive (CL)?

Norrington brings extensive global corporate leadership experience, particularly in digital, e-commerce, and ESG, having previously held senior management roles at eBay and other companies.

Who did Lorrie Norrington succeed as Lead Independent Director at Colgate-Palmolive (CL)?

Norrington succeeded Stephen I. Sadove, who will remain involved with the company as a member of the Audit and Personnel and Organization Committees.

How is Colgate-Palmolive (CL) addressing its growth strategy with the new leadership?

CEO Noel Wallace expressed optimism that Norrington's leadership will advance the company's growth strategy and digital transformation.

What date did Lorrie Norrington start her role as Lead Independent Director for Colgate-Palmolive (CL)?

Lorrie Norrington began her role as Lead Independent Director on March 1, 2023.