Colgate President William S. Shanahan Announces Retirement Date;
Ian M. Cook Elected President and Chief Operating Officer
NEW YORK, July 29, 2005 -- Colgate-Palmolive Company (NYSE: CL) today
announced that its long-serving President, William S. Shanahan, will retire on
September 30th of this year. Simultaneously, the Company's Board of Directors
has elected Ian M. Cook, 53, currently Chief Operating Officer, to become
President and Chief Operating Officer upon Mr. Shanahan's retirement.
Mr. Shanahan joined Colgate in 1965 and served in every Division around
the world and as CEO of former subsidiary Helena Rubinstein. His many senior
management roles gave him a unique, in-depth perspective on the Company's on-
the-ground operations, which he used in subsequent corporate leadership roles
to establish consistent global processes and strategies focused on key
performance measures, including market share leadership and worldwide volume
and profit growth.
In 1989, he became Chief Operating Officer and was named President in
1992. Since that time, he has been a prime architect of the Company's global
success, leading Colgate's highly focused business strategy in over 200
countries. His innovations led to many years of market share growth and
business discipline around the world. Since he assumed responsibility for
Company operations in 1989, the Company's sales have more than doubled from
$4.9 billion to $10.6 billion in 2004 and profits more than quintupled during
the same period.
"Bill is a gifted marketer with an encyclopedic knowledge of Colgate's
people, products, and markets, and he has earned enormous respect inside and
outside the Company for his results-oriented leadership," said Reuben Mark,
Chairman and CEO.
Mr. Mark commented further, "Our Board of Directors and Colgate people
everywhere join me in expressing heartfelt thanks to Bill for his outstanding
leadership. Our global success is a testament to his extraordinary vision,
knowledge and skill. By generously sharing his experience and insights with
our next leadership generation, Bill is making an invaluable contribution to
our future success as well."
Ian Cook has been Colgate's Chief Operating Officer since 2004. His 29-
year career with the Company includes success in a wide variety of operating
and corporate roles, including President of Colgate North America which he led
to record sales, market leadership and profitability.
Reuben Mark said, "Ian's truly global experience and record of success
make him especially qualified for his new role, driving our strategies and
results throughout the Colgate world."
* * *
About Colgate-Palmolive: Colgate-Palmolive is a leading global consumer
products company, tightly focused on Oral Care, Personal Care, Home Care and
Pet Nutrition. Colgate sells its products in over 200 countries and
territories around the world under such internationally recognized brand names
as Colgate, Palmolive, Mennen, Softsoap, Irish Spring, Protex, Sorriso,
Kolynos, Elmex, Ajax, Axion, Soupline, Suavitel and Fab, as well as Hill's
Science Diet and Hill's Prescription Diet pet foods. For more information
about Colgate's global business, visit the Company's web site at
http://www.colgate.com.
SOURCE Colgate-Palmolive Company
-0- 07/29/2005
/CONTACT: Hope Spiller, +1-212-310-2291, or Bina Thompson,
+1-212-310-3072, both for Colgate-Palmolive Company/
/Web site: http://www.colgate.com /
(CL)
END
© 2005 PR Newswire
