NEW YORK - Colgate-Palmolive Company (NYSE:CL) has announced the election of Brian Newman, current Executive Vice President and Chief Financial Officer of United Parcel Service, Inc. (NYSE:NYSE:UPS), to its Board of Directors. Newman's appointment is set to be effective from March 15, 2024. Concurrently, the company disclosed that Stephen I. Sadove, a long-serving board member, will retire on May 10, 2024, at the end of his term.
Newman, 55, is recognized for his substantial financial and international business acumen, particularly within the consumer products sector. His career at UPS began in 2019, following a 26-year tenure at PepsiCo (NASDAQ:PEP). During his time at PepsiCo, Newman held several finance leadership positions across various continents and also served as the company's Executive Vice President of Global Operations and Chief Strategy Officer.
The departure of Sadove, 72, aligns with the company's mandatory director retirement policy. Sadove's tenure on the board has been noted for his significant contributions, especially during his time as Independent Lead Director from March 2015 to March 2023.
Noel Wallace, Chairman, President, and CEO of Colgate, expressed gratitude to Sadove for his service and welcomed Newman, anticipating his positive impact on the company's future endeavors.
Colgate-Palmolive, a global leader in consumer goods, is known for its focus on Oral Care, Personal Care, Home Care, and Pet Nutrition. The company markets its products in over 200 countries and territories, boasting a portfolio of brands including Colgate, Palmolive, and Hill's Pet Nutrition, among others.
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