Summary
Colgate-Palmolive Company (CL) announced a significant addition to its Board of Directors on January 12, 2006, with the election of Mr. J. Pedro Reinhard. Mr. Reinhard brings substantial global business expertise from his 35-year tenure at The Dow Chemical Company, where he previously served as Executive Vice President and Chief Financial Officer. His appointment is expected to enhance the board's strategic oversight and financial acumen as Colgate-Palmolive continues to navigate its global operations. Additionally, the company's Board of Directors approved an amendment to By-law 50, concerning stock certificates. This amendment clarifies that signatures on stock certificates can be facsimiles. While this is a procedural change, it reflects an ongoing effort by the company to modernize its corporate governance and administrative processes. Investors can view the amended by-law text as an exhibit to this filing.
Key Highlights
- 1J. Pedro Reinhard elected to the Board of Directors.
- 2Mr. Reinhard is former EVP and CFO of The Dow Chemical Company.
- 3Mr. Reinhard brings 35 years of global business experience from Dow.
- 4The addition of Mr. Reinhard expands the Board to nine members.
- 5By-law 50, regarding stock certificates, was amended.
- 6The amendment allows for facsimile signatures on stock certificates.
- 7The amended By-law 50 is available as an exhibit to the filing.