On December 8, 2016, the Board of Directors of Colgate-Palmolive Company elected Mr. Charles A. Bancroft, Executive Vice President, Chief Financial Officer and Global Business Operations of Bristol-Myers Squibb Company to the Board of Directors effective January 1, 2017. Mr. Bancroft, 57, will bring extensive leadership experience and financial expertise to Colgate's Board. Mr. Bancroft was appointed Chief Financial Officer in 2010 and has served in his current role since 2016. Prior to joining Bristol-Myers Squibb, Mr. Bancroft was an auditor with KPMG. On December 8, 2016, Richard J. Kogan advised the Board that he will not stand for reelection to the Board at the Annual Meeting of Stockholders to be held in 2017, in light of his desire to retire as a director at the end of his current term.