Colgate-Palmolive Company Announces Executive Changes, Effective November 9, 2020
October 30, 2020 at 08:05 am EDT
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Colgate-Palmolive Company announced 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. 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.
Colgate-Palmolive Company is one of the worldwide leaders in the manufacturing and marketing of cleaning and hygiene products. The group also products and sells pet food (dogs and cats). Net sales break down by family of products as follows:
- hygiene and cleaning products (78%): oral hygiene (toothpaste, toothbrushes, mouthwashes, etc.; Colgate brand), body care (soaps, shower gels, shampoos, conditioners, deodorants, shaving products, etc.; Palmolive, Speed Stick, Softsoap, etc.), household care, and linen care (dishwashing liquids, detergents, stain removers, fabric softeners, bleach, etc.; Palmolive, Ajax, Soupline, Suavitel, etc.). Net sales are distributed geographically as follows: North America (25.9%), Latin America (30.6%), Asia-Pacific (18.3%), Europe (18.1%), Africa and Eurasia (7.1%);
- cat and dog foods (22%; Hill's): world leader.